• 2 hours Aluminum Is Bouncing Back In China
  • 4 hours The Deep-Sea Mining Debate
  • 20 hours Markets Trending Down Despite Tech Blow-Out
  • 1 day Big Oil Battered On Dismal Earnings
  • 2 days Russian Billionaire Bails On Mid-Sized Gold Miner
  • 2 days Gold Stocks Gear Up For A Big Autumn
  • 3 days America Is Looking To Bring Nuclear Power To Space
  • 3 days What Is Behind Gold's Astonishing Rally?
  • 4 days Stocks Tumble On Brutal Economic Report
  • 4 days Kodak Soars By 400% After Trump Bump
  • 5 days U.S. Coal Production Falls To 42 Year Lows
  • 5 days Indonesia Moves To Bolster Mining Sector
  • 6 days The U.S. Dollar Is Losing Ground As A Reserve Currency
  • 6 days Gold Prices Soar To Record Highs As Dollar Dips
  • 7 days Republicans Unveil Stimulus 2.0
  • 7 days Big Oil Is Back On The M&A Game
  • 8 days Big Banks Want Masks And Lockdown In Second COVID Wave
  • 10 days The Unintended Consequences Of A COVID Stimulus
  • 11 days Tesla Looks To Incentivize Nickel Miners With Massive Contract
  • 11 days Congress Butting Heads Over New Round Of Stimulus Checks
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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