zhipengcfel

Elliott wave analysis on Gold (2016-08-19)

FX:XAUUSD   Gold/U.S. Dollar
3 months ago
Gold             is in consolidation for many days. From Elliott wave analysis it might have a very quick wave C correction and then starts the next wave up.

Let's see how it will play!

Good luck for everyone!
3 months ago
Comment: I do not recommend to trade this correction as well as oil. The long term trend is very very bullish. We can just buy cheap position during the correction.
showerreport
3 months ago
I infer that you are expecting a correction in oil as well or do you think that they are running in different tracks? If oil and gold consolidate their uptrend would you think that insted of a hike rate we will get more stimulus? thanks!
+1 Reply
zhipengcfel showerreport
3 months ago
They runs in different tracks for daily chart. During the consolidation of gold for these days, oil is in a fantastic bull. But for long term time frame oil and gold are both in a bull trend. I agree that we will get more stimulus.
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showerreport zhipengcfel
3 months ago
FED has been following the BOE path since the financial crisis. BOE has proved that it can't hike rate, do you think that the FED will try to show that they can and first make a rate and then the boomerang will strike in the middle of FED's face.
+1 Reply
zhipengcfel showerreport
3 months ago
Sorry. I am not an expert on fundamental analysis. It is hard to say now.
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showerreport zhipengcfel
3 months ago
Neither do I, but Yellen is expected to talk next Friday so there we will get future hints
+1 Reply
lukemedway.uk showerreport
3 months ago
There is no way we can know for sure, but the Fed keeps saying that they need to see more data. We keep seeing relatively poor data from the US driving the price of gold higher, yet the Fed speeches remain Hawkish even though they are stating that they need to see more data to determine whether a rate hike is possible. A rate hike in September? Hmmm... Based on what data I wonder!

+1 Reply
zhipengcfel lukemedway.uk
3 months ago
LOL. I can not agree more. Haha. -:)
Reply
showerreport lukemedway.uk
3 months ago
8 Regional ask are asking for a rate hike, doves la like Williams, Fischer or Dudley are hinting a rate hike. I think is out of question that they will trigger a rate hike this year yet a think September probabilities are miscalculated, I would asign a bigger probability. If they want to make a good transition then they should state that they will hike on December. if they want to kick the board, then the FED will hike in September and Hillary will loose (I think that Obama has sold Clinton to the Russians. Mysteriously, the Russians keep on doing what they want and nobody stop them). Just talking out loud.
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markez
3 months ago
Do you have long term chart for gold ? Thanks
+1 Reply
zhipengcfel markez
3 months ago
Structure of Gold

It is a old chart. But we can see how powerful ew is.
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markez zhipengcfel
3 months ago
What are your target for the long term ?
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Givingthelowdown
3 months ago
thats a very good harmonic chart....multiple reasons to buy @ 1307...thank you....
+1 Reply
zhipengcfel Givingthelowdown
3 months ago
Agree. You are welcome! -:)
Reply
showerreport zhipengcfel
3 months ago
Sorry but I don't understand your chart. I infer that we are going to have a great upside due to the MACD and the Force Index, correct?
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