Currently believe the move up (double zig-zag) is complete. Appears both "C" waves have ended in diagonals. We are now in an ABC down which is also finished to create an "A" wave. Expecting prices to move up on Tuesday to test the 1157.90 area. This would be our "B" wave. This "B" wave needs to break the minor trendline but not go above the "X" wave. (If it does...
Despite there is a lot of Bulls looking for a move to the upside, still believe we have one last move to the downside. Looking currently at a corrective move to the upside (perhaps the 1156.00 area) Appears to be an ABC with the "C" wave being an "Expanding Diagonal". After that we should again see another new low.
This correction downwards could possibly be complete. Ending with a triangle (abc-x-abcde)(wxy). A break of the blue trendline could perhaps mean more to the upside.
Currently believe this leg down (Since presidential election) has been corrective in nature. Way too ugly for a 5 wave move down. In the longer term this appears to be an "A" wave which should be followed by an other corrective move up. The "B" wave. In my analysis this "A" wave is still incomplete (More to the downside) In the short term analysis we still have to...
Again believe there is more to the downside (But the Bear is running out of steam) Am looking for a slight move up before we again retest this new low. The 1120 area shows up many times in my analysis although it might not be a real strong support/resistance zone. Although this leg down is much longer (price & timewise) than the first move down from the Top, I see...
Currently believe we are in an ABC with an oppurtunity to short Gold. Looking for a 5 wave move up to end the "C" wave. This would end the correction with more to the downside.
Currently believe we are in a complex correction down with one last leg to complete. Looking for a 5 wave move to complete a minor "C" wave. This would take us to the end of December which would be an ideal time for Gold to start a bullish run. On an even longer time frame gold appears to be Bearish. Only time will really tell.
Currently looking at a correction upwards to the 1200.00 area. After this another move down. Believe we are in a complex correction downwards. Looking for a large "B" wave down (Not complete yet) Many oppurtunities for taking some Pips. Once the "A" wave is complete we should see a major retracement for the "B" wave followed by more to the downside.' Many...
Currently believe we are in a "C" wave down. Appears to be moving in 3 waves for each leg. The first wave is so far the longest with the third wave being shorter. The fourth wave has been a long drawn out triangle (Typical for Gold) Looking for a bit more to the downside. Cannot break the Yellow trendline (Analysis is Wrong) Wave 5 should complete before that...
Believe currently we are in a strong "C" wave down. If this last move down holds at the 1180 area Gold could again push up to make another high. Pricewise and Timewise we are in a good scenario for this to be a larger "B" wave followed by a strong "C" wave up. Note: Could also be a "Head & Shoulders" for much more to the downside.
Believe we have more to the downside before this moves higher. After this first leg is complete prices will move higher to complete the "X" wave. Gold will continue downwarrds with a basic ABC pattern to make further lows. Once this pattern is fully completed Gold will retrace one more time & make a new low before the bullish trend resumes
It looks to me that Gold is stuck in a channel. In the short term believe Gold has some room to the upside. Roughly the 1276 area. After that it will go down to make another new low in this longer term correction. Appears to me that every larger correction so far has been a complex WXY with the "Y" wave being a simple ABC. Speculating that this large correction...
Currently believe we are in a correction to the upside. This correction will attempt to test the Bearish trendline,probably breaking it. There is strong Resistance at the 1330 level. This is a multitude of 4th waves which is a good target for the end of this correction. Timewise longer term believe this correction upwards is not complete.
Believe in the short term we still have some room to the upside. Price action from the low has been really ugly and appears to be corrective in nature. Looking for a smaller 4th wave to consolidate before one last final push up.
Believe we still have one more last move up to end the correction. Looking for an ABC up from the smaller 4th wave to end the larger 4th wave. After that the Bear would resume
Believe we are currently beginning a "C" wave of a "4th" wave of larger degree. Looking for a real ugly diagonal (choppy) Will probably be long and drawn out as Gold attempts to test the longer term Bearish trendline (Cayan) Once this trendline is tested Gold will more than likely resume downwards.
Currently believe we are in an ABC down ("C" wave) that is incomplete. Looking for this "C" wave to end @ 50% of the total move up (1216.00 area) If this holds we should see a move up to test the new high. If this does not hold we are more than likely still in a bearish trend and will reach a new low. If we are correcting upwards we could see a strong 5 wave move...
Still believe the trend is Bullish. We have broken the major bullish trendline (Cayan) not once but now twice. This is characteristic of a correction ending with a triangle. If this Bull was over the price should have moved much stronger & faster downwards than what it is currently doing right now. The price hasen't even tested the top of "Wave 1". Speculating...