Currently believe we are in a "Complex correction" with Gold. Last move up appeared corrective. Looking for a shorter term triangle to end this correction before we proceed upwards.
Currently believe we are in a Correction. Looking for a complex correction to the downside at the 1238.00 area before we progress upwards. After this we should Progress forwards.
Looking for a move down to the 1236.00 area. After much analysis believe we are currently in a Triangle. If this price holds we should move upwards to test the major "A" wave.
Still believe we have more to the Downside. Looking for this correction downwards to end with an ABC flat. After that "Bullish".
Longer term Bullish, but still looking for one last move downwards. This current move upwards is far as I am concerned is Corrective in nature.If what I have presently as the "B" wave holds am looking for a Weak "C" wave down. (Unable to make a new Low) This would perhaps end up as an "IHS". Strong Bull after that.
Still believe this correction downwards is incomplete. Simulating a 5 wave move down which will end at the 1217.00 area. Not a new low but a break of the new "Bullish Trendline". Extremly ugly correction, but after this should progress upwards. Many similarities between Major Wave "W" & Wave "Y".
Currently believe we are in a complex correction downwards. Looking for a move up to the 1228.24 area before we resume south. 1206 area before we progress upwards
Currently believe we are in a Large "Complex Correction". Wave "2" or Wave "B". Right now we are in the Wave "Y" which is still incomplete. Many corrections have a tendency to end at a Wave "4". This is where we are at presently. Has Tested the Major Wave "4" twice. Am looking for a third test before we progress upwards.
Currently believe we are in a minor "4th" wave up of a "C" wave down (Complex correction). Not expecting price to go too far up (Perhaps the 1244.5 vincinity). After that a final move down to the 1229.00 area to end this correction.
Still believe we have to Test the "Bullish Trendline". This appears to be happening right now. This would be a good thing for the "Bulls" as long as it doesn't get to extreme (Just a quick test with weakness followed by a strong move up). Appears to me we are in a WXY for a Wave "2". Many similarities between the "W" and the "Y". Currently looking at a "C" wave...
Hello Traders, Am currently looking at 2 "Key Levels" before Gold can progress upwards. The key issue is we need to test the "Bullish trendline" (Cayan). There is 2 ways to do that. "Option #1": We ride the "Bearish trendline" down to the 1249.00 area. Option #2: We do a faster, quicker move down to the 1226.00 area. Right now I am leaning towards "Option #1". Good Luck.
In my last analysis the Trendline was broken. Therefore the big move up is not going to happen. (At least not right away) Still believe Gold is Bullish. Are currently in a "ABC" expanded flat correction. Looking for the "C" wave to end at the 1229.00 area. After that Bullish.
Hello Traders, I see it being "Bullish". With geo-political issues this might not be "such a good thing". On a more "optimistic side" I believe if this is bullish it is just a Correction. Would end roughly in October with Gold crashing to the Downside. For now it appears each "Wave 1" up has been a "Leading diagonal". In Elliot Wave if "Wave 1" is a leading...
Still appears to be quite "Bullish". We now have a daily bar that is finding support on the long term Bearish trendline. Believe the minor Wave 2 is complete and we are about to begin Wave 3 of 3 (Of Wave "3") My first short term target is the 1352xx area.
Looking at the 1279xx area to possibly end this correction downwards.
Appears to me we are in a Correction upwards. A simple ABC. Many buying oppurtunities on this move upwards
Looking at the 1278.00 area before we progress forwards. Details on Chart.
It appears to me we have much more to the upside. Currently correcting for a minor Wave "2". Expecting a shallow retracement (23.6%) The 1 wave impulse is already complete but already the correction is going above it (Very Bullish). All the other Wave "2's" were very shallow with a strong "B" wave and a weak "C" wave. Looking at the 1350 area for Wave "3". Much...