GOLD and NASDAQ 100 Intraday: Elliott Wave Analysis

By: Gregor Horvat | Thu, Oct 23, 2014
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Nice reversal so far from 1255 where we called end of a five wave rally in wave (c). For now a decline from the top is not in five waves yet, but is looking promising so far. However, for further weakness we want to see a daily close price today beneath 1231 that would open door for 1219 and even 1200. For now, short-term invalidation level is at 1244.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

NASDAQ100 is higher in pre-market now already at the highs after recent fourth wave pullback as highlighted yesterday. Price could rally to 4000-4020 in the near future, but then keep an eye on new retracement of wave four but of a higher degree.

NASDAQ 100 1h Elliott Wave Analysis

NASDAQ 100 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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