Short term Elliott wave count suggests that rally to 1342.26 ended wave ((x)). Decline from there is unfolding as a double three where wave (w) ended at 1318.2 and wave (x) ended at 1325.52. While near term bounce stays below wave x at 1316.13, and more importantly below 1325.52, Gold still has scope to resume lower in […]

Short term Elliott wave count suggests that rally to 1342.26 ended wave ((x)). Decline from there is unfolding as a double three where wave (w) ended at 1318.2 and wave (x) ended at 1325.52. While near term bounce stays below wave x at 1316.13, and more importantly below 1325.52, Gold still has scope to resume lower in […]

One of the best practices when it comes to trading is to have a trading journal. Think of a trading journal as your battle plan / strategy. Traders should spend time to analyze the market ideally during the quiet period, such as the Asian session and plan trades for the coming session. When I get to know new traders and […]

Elliott wave is a pattern-based forecasting tool. The Theory was developed in 1930 and it is known for the idea that the Market advances in 5 waves and pullback in 3 waves. The Theory explains that the trend is always in 5 waves, and the trader needs to buy/sell against the beginning of wave 1 to make […]

Short term Elliott wave count suggests that rally to 1342.26 ended wave ((x)). Decline from there is unfolding as a double three where wave (w) ended at 1318.2 and wave (x) ended at 1325.52. While near term bounce in wave x stays below 1325.52, expect Gold to turn lower in wave (y) of ((y)) towards 1291 […]

Fed Chairwoman Janet Yellen and other Fed members gave hawkish comments at Jackson Hole meeting last week, boosting the U.S. dollar against several currencies. Janet Yellen suggested that in light of the solid performance in the labor market, the case for an increase in federal funds rate has strengthened in recent months. However, she did not specifically say […]