Gold (Weekly) @11 Nov 2015
On the mid-term outlook, Gold is at the final phase of its major downturn from all time high of 1,900 (year2011).
Price is forming an Ending Diagonal - typical wave5 pattern following significant downmove or extended wave3.
A closer examine of the ending diagonal structure shows that a potential Final Down-Leg (lower degree wave_v) is...
Looking over the AUDCAD the daily has broken through a trend line resistance. The 4 hour shows a classic 5 wave structure. It would be reasonable to expect a break at the top of this wave 5 as I see it into a corrective pattern.
On a shorter time frame I will be looking for long setups until this wave 5 trend line has broken through.
This is for my trade...
The daily SLV sold off in a nice 5 wave pattern down, reaching the MTPredictor minimum wave 5 target. A red high volume VSA spike came in at the low in wave 5. When this is followed by a blue buyers candle it is an indication that professionals are stepping in and buying. If, in fact, professionals are buying, then the move up should not be a small one. A DP...
