Double three structures are common occurrences in the market and as it has been pointed out before they can also be the Elliott wave formation that a particular market instrument is trending within the larger degrees and time frames. As pointed out here before, it is simply impossible in some markets to get a legitimate […]

Short term Elliott wave count suggests that decline to 1302.33 on 9/1 low ended wave (W). Rally from there is unfolding as a triple three where wave ((w)) ended at 1315.23, wave ((x)) ended at 1304.5, wave ((y)) ended at 1330.2, and second wave ((x)) ended at 1315.7. While the metal stays above 1315.7 and more […]

XAUGBP (Gold/GBP) rallied from 2008 low to 2011 peak in 7 swings after it started correcting the cycle from 2008 low which lasted 4 years and ended in July 2015 at 61.8 Fibonacci retracement of the rally from 2008 low to 2011 peak. Since then instrument has rallied again in 7 swings to 1069 (July […]

 The first thing needed to be accepted in a traders mind is by itself, Elliott Wave as a trading or trend trading method is not enough. There are always several “valid” Elliott Wave counts. As known, some markets shown here at our site for quite a while have been proven to “trend” in 3, 7 […]