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Gold prices point down on intraday basis

In our previous analysis of gold we showed you three different counts, all of which expecting a bearish reversal soon. Well, here it is. On the 5-minute chart of gold prices you can see a five-wave decline.  According to The Elliott Wave Principle, discovered and developed by R.N. Elliott, after every five-wave sequence there is a correction…

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Gold with three bearish alternatives

In our previous article about gold we showed you two alternative counts – one bearish and one bullish. Shortly after that, gold broke under 1292, thus eliminating the bullish one. However, this breakout turned out to be a fake one, because gold recovered by more than 20$ from 1287 to 1308 so far. If we examine…

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Gold traders, do not underestimate this!

Not so long ago, on July 15th, we showed you the chart you are going to see below, saying that we have to expect more weakness from gold. We still prefer going with this count, since it is the most obvious one. However, there is another very tricky scenario. We do not fancy it, but…

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Gold rose yesterday, the plane crash or Elliott?

First of all, before starting the analytical part of this article, we at EWM Interactive, would like to express our condolences to all relatives and friends of the 295 people, who found their death in this terrible tragedy. Can you predict the news of tomorrow?  Well, we cannot either. On July 15th we showed you…

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Gold to finish a 1-year-lasting pattern

Gold has been trading in a range recently, moving sideways between 1306 and 1333. When we happen to see this type of hesitation, there is one particular pattern, which comes into mind – the triangle. Triangles precede the final movement of the larger sequence. Let’s see how it fits into our wave count this time.It seems…

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Gold, 1100 visible in the long term

Gold has been trading in a range between 1178 and 1430 since mid-June 2013, without being able to make a new low or a new high. Fortunately there is one Elliott Wave pattern fitting the description of “no new lows or highs”. It is called triangle. Triangles are sideways corrective patterns, which consist of five waves,…

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Gold short-term bearish on 15m chart

Gold topped at 1285 and went down in five-waves to 1258. This means that the rally, which is currently in progress should be only a correction. Every correction consists of three waves, so it seems that there is one more swing higher left, before the decline resumes in wave (3)/C. Ideally, prices would find resistance…

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Gold developed well

In our intraday analysis on gold from yesterday we were expecting the yellow metal to drop at least to 1373. As you can see on the chart below, gold developed well, falling from 1384 to 1350 in an impulsive manner. The white rectangle shows where we were yesterday, when that forecast was made. After every five…

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Gold is going south

Five waves down, three waves up. In terms of the Wave Principle, gold is going south. Entry between 1385-1387, invalidation level at 1392. First target 1373.

Gold, expanding or running?

Gold could afford interesting selling opportunity, if price falls below 1340. If this happens, the first target of 1320 offers a risk/reward ratio of 2:1, while the second one – more than 3:1. Keep in mind that running flats occur only 1 times out of 10, so chances are on the side of the expanding…

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Gold, intraday trading idea

Gold is looking bearish on the 5-minute chart. An intraday trading idea is shown on the chart below. Risk/reward ratio is at least 2,5:1.