Al3x

Al3x Updated 

Hello everyone, I have been learning about Elliott Wave theory for quite some time now and I believe I am getting the hang of it. At least to the point that I would like to share my analysis. In the short-term (2-3 days) I am neutral on the EURUSD, but in the longer term I believe the EURUSD will still see lower lows. The EURUSD spent a very long time (around...

Al3x Updated 

This is an update to the revision of my Silver analysis a small month ago. I will try to do more frequent updates from now on. Yesterday's and today's price action leaves, in my opinion, zero doubt that we left behind a long-term market bottom. I think the large ABC correction is behind us. The market found support at the trend line that was established earlier...

Al3x

I use elliot wave analysis theory for most of my technical analysis. I am convinced that gold started a new bull market at the beginning of this year. Not only technically, but also fundamentally I believe a great many things favor rising prices for gold. I had to revise my wave count in silver and gold after these markets were pushed down at the beginning of...

Al3x

This is a revision of the previous analysis that I did on Silver. Let me start off by making clear that I am still very much a bull on Silver. The price action looks very impulsive since the start of this year and does not really fit in the price action of the multi year bear market before that point in time. Therefore I revised the wave count to give you some...

Al3x

Silver seems to be in the final E leg of that 4th wave triangle pattern (ABCDE). I take the surge we saw this Friday to be a B inside an ABC correction. The final C leg can go as low as $18,50, but I do not think it will go that low. Note that the orange in the chart constitutes the highest scale, followed by white and green. Settling above the $20 mark is a...

Al3x

This is an update on my Silver price analysis that I published about two weeks ago. It appears we have finished the D leg and are now tracing the E leg of a giant ABCDE corrective pattern. Note that this is very bullish for Silver as it is a counter trend pattern. Silver has shown some very bullish moves from the start of this year and I think it is far from...

Al3x

Gold has been in a very strong bull trend since the start of 2016. I have zero reason to believe this trend is changing any time soon. We could be looking at the end of an ABCDE correction; which means the final E leg is already behind us. In that case the E leg ended where the C leg ended in this technical picture. However, if gold keeps going sideways to...

Al3x

I believe gold is in a strong new bull trend since the start of 2016. We have seen some very strong price action coming up, showing a relatively clear pattern of 5 legs in each up move. Everything in between looks very corrective. It seems like gold is now in the process of tracing a 4th wave on a large scale, preparing the ground to move higher. A break out...

Al3x

This analysis shows a possible LONG set-up for silver. I believe silver started a new bull trend since it bottomed late last year. The price action since the surge after Brexit looks very much corrective. Silver appears to be tracing a fourth wave correction. As long as the critical support level holds around 18,50 the bulls are in control. A run above the...