"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 35 mins Twitter CEO: The World Will Have A Single Currency
  • 2 hours Asian Currency Correction Could Signal Looming Crisis
  • 3 hours Best Buy Drops Telecom Giant Over National Security Threat
  • 4 hours The Pros And Cons Of The Federal Interest Rate Hike
  • 5 hours Good News For Gold Bulls Despite Interest Rate Hike
  • 7 hours Trump Hits China With $50 Billion In Tariffs
  • 8 hours Russian Gold Reserves Hit Record High Amid Rising Tensions With West
  • 9 hours Stocks Pull Back Following Interest Rate Hike
  • 1 day Will Regulatory Rollbacks Make Banks 'Too Big To Fail?'
  • 1 day Elon Musk’s $2.6 Billion Tesla Challenge
  • 1 day Tech Giants Could Be First Victims Of U.S. Trade War
  • 1 day Dow Gains Despite Fed’s Rate Hike
  • 1 day The Biggest Threat To Chinese Oil Futures
  • 1 day Spending Bill Could Cause U.S. Debt To Soar To 99% Of GDP
  • 1 day Precious Metals Slide Ahead Of Fed’s Interest Rate Decision
  • 1 day China’s Soft Power Grab May Be Bad News For Emerging Economies
  • 2 days The Secretive Wall Street Firm Betting On Bitcoin
  • 2 days ‘Data Is King’: The Oil Industry’s Next Most Valuable Resource
  • 2 days Google Invests $300 Million To Combat Fake News
  • 2 days Zuckerberg Dodges A Bullet As Facebook Loses Billions


Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

More Info

Gold Elliott Wave View: Pullback Ending

Gold Elliott Wave View: Pullback Ending

Short term Elliott Wave view in Gold (XAUUSD) suggests that cycle from 4/10 low (1246.92) is unfolded as an impulse Elliott wave structure where Minutte wave ((i)) ended at 1257.2, Minutte wave (ii) ended at 1250.8, Minutte wave (iii) ended at 1279.75, Minutte wave (iv) ended at 1271.69 and Minutte wave (v) of (a) ended at 1295.6 peak. Below from there metal could have finished correcting the 4/10 cycle (1246) in Minutte wave (b) pullback as 11 swings Triple three structure within the blue box area at yesterday's low 1278.68 & should be risk free already, while above from there and as far as pivot from 1246 low remains intact metal has scope to resume the rally in Minutte wave (c). However metal still needs to see a clear break of 1295.6 peak first for final confirmation for next leg higher, above from 1278.68 low Minutte wave (i) ended at 1292.12 peak and Minutte wave (ii) is remains in progress & expected to end above 1278.68 low for continuation higher. If it manages to break 1278.68 low from here then metal could see 1275.38-1271.33 area next as double correction before resuming higher again. We don't like selling the metal and favors keep buying dips in 3, 7 or 11 swings as far as pivot from 4/10 low remains intact.

Gold 1-Hour Elliott Wave Chart

Gold 1-Hour Chart
Larger Image

Elliott Wave Degree


At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.


Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter