• 11 hours Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 3 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 4 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 5 days Why 12 Million American Millionaires Isn’t Good News
  • 6 days Big Oil Is Paying The Price For Investing In Renewables
  • 7 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 8 days Did Amazon Just Democratize Prescription Drugs?
  • 10 days The Private Space Race Just Got Very Real
  • 11 days Short Sellers Are Willing Big In This Turbulent Market
  • 13 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 13 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 14 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 15 days Black Friday Could Be Retailers’ Only Hope
  • 16 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 17 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 19 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 20 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
  • 21 days Will The San Francisco Wealth Tax Spark An Exodus Of The Rich?
  • 22 days The Fin-Tech IPO Of The Century Just Got Crushed
  • 23 days UK Bookies Report Largest-Ever Political Bet Ahead Of Election Results
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On GOLD And AUDUSD

Gold

Gold is still in recovery phase, resembling a triangle pattern. It is now trading in last stages of the triangle pattern in wave (e). Price in wave (e) could move towards 1080-1084 area, before turning to the downside into blackwave 5.

Gold, 1h

Gold 1-Hour Chart


S&P500

The same goes for S&P500, where price is trading in a traingle pattern,which now looks completed. That said more upside could follow in sessions ahead.

S&P500

A Triangle is a common 5 wave pattern labeled A-B-C-D-E that moves counter-trend and is corrective in nature. Triangles move within two channel lines drawn from waves A to C, and from waves B to D. Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3.

Basic Triangle Pattern :

Idealized Elliott Wave Basic Triangle Pattern

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment