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Elliott Wave Analysis of Gold : 2 February 2010
A correction can sometimes be 100% of the prior move, and this is what we seem to have got in Gold. Take a look at this chart where the Elliott Wave count labels are clearly marked. Gold has retraced 100% of its prior rally and has embarked on a strong rally that we have been patiently [...]
Wave analysis of Gold. Update 15 Jan 2010
Hello again. I am inclined to say that the post of 31 Dec was based on incomplete data for the short term because of the gaps. I had assumed (presumably incorrec tly) that we had an overlap. Perhaps the 4th wave was lost in the gap, and we really had a full 5-wave pattern there? [...]
Gold again! Update of 24 December 2009
Now that Gold has staged a smart recovery from the lows, [ and is likely to close the week above 1100 ], I thought it will be instructive to post how one should have traded this final fifth wave. As always, you will find the comments written on the chart itself. Briefly, [...]
Elliott Wave Analysis of Gold 23 December 2009
Many investors and traders must be wondering about the immediate direction for Gold now that we seem to have come well below the 1100 level. My previous comment had said we need a weekly close below 1100 to cast doubts on the call for a fresh surge in the price of Gold. Today, I spent [...]
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