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Goldelliottwave

Gold looks like the bullish count will play out (Elliott Wave)In my previous posts I looked at both the bullish as well as the bearish possibility and pointed out that if the market takes support over the 1244 mark then that would increase the possibility that the bullish count will play out. As of now the market has clearly taken support over the 1244 mark and hence I believe that the current leg up from 1194 was the Wave 1 of Wave 3. As of now I believe that the market will face resistance near the 1260 region and then reverse uptill 1230-1224. If the market further holds the 1230 as support then that wold be the start of the next leg up and will confirm my current view. I will update with further targets once the market makes the wave count more clear.
FX:XAUUSDShort
by NeeravYadav
1
Gold Bullish Possibilities (Elliott Wave Analysis)In the last article I talked about the bearish count which is my main count, but looking at this very impulsive move we must consider the alternate scenario and hence I'm writing this article. As per the presented count I have considered that the Wave 2 progressed as a Running Flat type of correction and ended around 1195. Course of Action : If the market takes support over this red zone which is basically the region of 1216 - 1244 then this alternate bullish count can be considered as the guideline for trading. I will update further once the market makes it clear which count it will play out.
FX:XAUUSDLong
by NeeravYadav
4
Gold Short Trading Opportunities (Elliott Wave Analysis)In this article I will be discussing my Main Elliott Wave Count for the Gold Market. It seems that we are in corrective Wave 2 and within this Wave 2 we are just about to complete Wave B. We should look for reversal near the 1240 region and and if a reversal occurs as I expect it to then the market should turn around and achieve levels uptill 1176. SL can be place above 1246 and if this opportunity occurs then this would be a very good risk to reward trade setup as you can see.
FX:XAUUSDShort
by NeeravYadav
Gold ongoing correction to continue (Elliott Wave Analysis)After completing a double Zig Zag type of correction (discussed in my previous post) Gold now seems to be going up in an impulse, however the currently it seems to be in Wave 2 which looks like a Zig Zag indicating that prices can head lower from 12000 to 1175 region. This is the main count as of now and the leg one seems to be a Leading Diagonal, other counts exist like Gold following a 1-2, 1-2 kind of Wave structure but the most fitting count is what I have presented here. In view of this count the strategy for trading still remains the same, Gold is still a buy on dips, the essential levels are all been displayed on the chart. I will update further as market progresses.
FX:XAUUSDShort
by NeeravYadav
Gold a rally seems likely (Elliott Wave Analysis)In the previous post I discussed how both the main and the alternate counts were referring to the same fact that a rally in Gold was possible. Here I have discussed the same count on hourly time frame and it seems that we are in the 3rd or the 3rd of the 3rd as per this count. I have given the hypothetical wave progression along with the Invalidation mark which is present at 1225, if market goes below that mark I will redo the count and look at the alternate possibilities. As of now new longs can be added on break above 1265. You can view my last posted analysis for clear targets for the 3rd leg.
FX:XAUUSDLong
by NeeravYadav
2