07/31/2010
Auto Elliott Wave 43 replies
Elliott Wave Chronicles 36 replies
Elliot Wave counting on gold 3 replies
Silver wave count 5 replies
DislikedLooks like gold is in a wave 5 of 3 on the weekly. The daily chart confirms that. We are going up right now to top out above 1265.10 for now. On the daily we are currently in a wave 5.
By my count the SP500 is in a wave 4 on the weekly, so we can expect any moves. Right now it's a short on the daily after we went below 1086,6. With the low on July 6th 5 waves down had ended, we just saw what looks like a 3 wave correction (daily tf). Now dropping again .... let's see where the market takes us.
Good Trading.Ignored
DislikedStopped out on Gold this morning .. I am looking for a bigger retracement now .. at least 38,2% probably more.. then long again to make new highs.
SP sell @ 1062,5 .. could be a longer thing downwards. Let's see.Ignored