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Gold Down-Channel


Last time I was speaking about Gold it was trading near an important inflection point, see more here: Gold Inflection Point
Even thought I was drawing the point that the probability suggest we should continue lower, I have also been advice if we broke the trend-line that connects the 2012 highs we should take the breakout with a long position. The initial breakout lack momentum but only after SNB decision to abandon the 1.2000 EUR/CHF floor, Gold started to gain momentum.
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SalviLeana avatar
SalviLeana 26 1月

Great job :)

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SalviLeana Merci bien :)

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Olga18375 31 1月

Good luck!!!

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Aussie Elliott Wave Cycle Final Stage

Aussie is in the final stage to complete the Elliott Wave cycle that begin with the 2013 sell off. So far the market has corrected the sell off that started from 2013 with only 2 wave that can be subdivided in another 3 wave of smaller degree. Based on my Elliott Wave count we're in the final stage to complete the whole cycle. Right now wave C is developing and we should expect another 3 waves of smaller degree. We need a break above 0.9400 to complete wave "a" and than a resumption of the curre…
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Daytrader21 22 11月

Update 1: In the short term the upside remains favorable in order to complete another abc sequence which will forma wave C of higher degree. It appears that we're forming a small double bottom at 0.8560 and as long as this level holds expect more upside. For next week resistance is at 0.8800 level.

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Daytrader21 29 11月

Update 2: Although we break below we haven't succeed in breaking the big round number 0.8500 suggesting that the bulls may be still in charge, at least on the short term. Next week if we break below this level it may be the case we're heading lower much more sooner than i was expected.

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Update 3: The bearish trend has started resuming to soon and it may be the case my timing on this forecast to be wrong. However during this time of the year there can be big spikes in prices and as the dollar bull move may look overextended in the short term we can have a correction.

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CAD/CHF Final Stage of the Downtrend

The Bearish trend has been slowing down in CAD/CHF in the past several weeks as the downside momentum has failed to pick up and we're stuck in to some decent consolidation. In Figure 1 we can have a look at the daily chart and how this down trend have moved inside a downward channel We can also see how each previous swing low after was broken to the downside has turned into a resistance(see red line Figure 1).
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Update 1:Last week we saw another failed attempt to break below last week low. this should be seen as a bullish sign and this should hold as support, next week look for momentum to start picking up, Next major resistance is at 0.8050 and than the major 0.8200 round number

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Update 2: Unfortunately we have made a new marginal low after we break previous swing low at 0.7880 which suggest more consolidation. Major resistance is at 0.8000 big round number if we can get a weekly close about thatlevel we can expect our target to be hit

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NZDUSD Following Aussie footsteps

I seems that New Zealand dollar is following the same path as aussie, both pair have been sold very heavily in the past month and the momentum is likely to continue to the downside as I don't see any support coming into play until we get near the lows around 0.7400.For the last months New Zealand dollar was trading inside an up channel but since we manage to break the support line channel momentum picked up to the downside. Based on Elliot wave count we still have further downside to move so I'm…
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The structure of price action has changed. We have formed a based between 0.77-0.85 from where price could rally and this can impact our forecast, but there is a chance if the rally will be short lived than we can return back into the base and eventually break lower

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Skif 5 7月

0.75 very strong level

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After we broke above 0.7860 level which was the resistance for the current market ranging zone, price failed to close above as momentum fade away, for now price should retest the support zone at 0.7680 and in the end to break below it to finally fit my target.

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