All Entries Tagged With: "elliott wave analysis of gold"
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? [...]
Wave Analysis of Gold, 31 December 2009
One of the reasons why traders should learn Elliott Wave Principle is because it gives you clues about the changing whims of the market much before any other system can. Remember, NO ONE can command the market to do as he interprets the charts. However, a smart analyst can tell you a low-risk entry level, [...]
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 [...]
Gold reaches record highs and first objective
Almost a month back, I wrote in these pages that Gold will stay bid until it reaches at least 1069, and if sentiment remains strong, we could even see 1161. At that time, the precious metal was trading at 1016. Today, Gold has reached a record high and met that first target at 1069, and [...]
Gold shines
Every now and then I run into these situations when I have to revise my analysis of several instruments at the same time. The simple fact is NO ONE can forecast the markets. What one can do is to determine with a reasonable degree of confidence about the likelihoodof a certain pattern developing in the [...]
Gold posts head and shoulders top: 14 June 2009
Gold has closed below the neckline of what looks like a nice head and shoulders top. The neckline itself lies at 944, and will become a major resistance if the metal continues to slide towards its first target around 900. Readers will remember that I have been calling for a significant downmove in Gold, most [...]
Is Gold ready to collapse? 7 June 2009
Has Gold completed its 2nd retracement that often follows a fifth wave extension? This is an important question because if Gold has indeed finished its upmove, what should follow is a significant down move that could reach 650, or potentially even lower towards 560. On the surface, such a proposition seems laughable. But be warned [...]