HunterCoder

HunterCoder

Gold ended it's tremendous bull run and from beginning of December started major correction. Wave A and B of this correction is already complete and we're now expecting a tradable wave C of this correction.

HunterCoder Updated 

Gold is moving upwards to correct previous downfall to 2536. This move is very strong and is contained in narrow channel. You can expect two more legs of this move up to above 2700 area.

HunterCoder

Gold finished it's supercycle wave 5 at 2790 and pulled back 23.6% of it's move completing a wave A of what probably will be a sharp ABC correction.

HunterCoder

The week closed with bearish engulfing reversal indicating a drop from very high bullish level of 27 on the Thrend Strength After Reversal Indicator Such high level is reached only for the 5th time in modern gold price history. Previous occurrences of a drop from such a high level indicate a major correction in Gold prices: Drop from level 23 in May 2012 ...

HunterCoder Updated 

Gold is moving for it's final wave of a cycle. Projected end of the move is at 2745. Currently we are pending wave 3of3of5 what will shoot price above the resistance to ATH. Invalidation is at 2638, which is an end to wave 2of5.

HunterCoder Updated 

Gold is moving in proper momentum to the upside. We may push to test 2700 to finish off this wave 3. After that expect a correction for wave 4. This correction will be a perfect place to hunt for a buy that will take us for a final leg up.

HunterCoder Updated 

Gold is moving upwards and the count indicates it will give two more pullbacks before reaching 2830 in the middle of November 2024. Currently the momentum is strong and until two way market develops, only long positions should be established. I will update the idea when we reach final phase of the move.

HunterCoder

Gold is developing bullish structure with momentum resembling Wave 3. This pattern if valid should be traded only to the upside. The current Wave 5 of Cycle degree should end around 2865.

HunterCoder

We're approaching important crossroads at gold. After a major breakout gold is about to finish of cycle degree Wave 3 with an extended 5 sub-wave. Look for topping pattern and we're ready to start major correction that can last couple of months.

HunterCoder

Gold is printing Wave 5 at the end. Some upside is still possible to finish off fifth waves but can be shorted from the lower high.

HunterCoder Updated 

I'm predicting Flat pattern in the middle of bigger WXYZ correction. We have one more wave to complete smaller wave B of the predicted Flat ABC pattern. If so, sharp reversal should appear shortly and impulsive move down to attach recent swing lows.

HunterCoder Updated 

Elliott Wave analysis presents another possibility for the medium term: we can be in complex correction for next 2 months printing WXYZ all the time. Bulls and bears will be strongly disappointed in this scenario. this scenario is very bullish. Once the correction ends, we can expect upside breakout.

HunterCoder Updated 

- Gold is holding lower price but still no downside breakout - There are surely some trapped bulls trading off the daily chart: there were several good looking bull signal bars in recent weeks. - The 2150 price target is based on weekly chart - there are some bears trapped at this level.

HunterCoder

- Wave 2 smaller degree is getting extended similar to previous correction - If price breaks previous swing lows impulsively, we can expect lower prices. - The risk reward is quite nice from here. Invalidation and stop loss is at 2388 - Move to the downside is supported by the fundamentals: Russia-Ukraine peace talks and stronger dollar

HunterCoder

- The price of gold is still correcting for Wave 4. The assumption is that we're in a contracting diagonal. - The price can turn down but can also keep correcting for a while here - After the correction, take out of swing low is expected. This is the crucial place to distinguish between Bullish and Bearish scenario. If price turns sharply after breaking the low,...

HunterCoder

Gold is extending correction for Wave 4. This breakout is just a beginning of a shakeout cause I'm expecting one more swing low. If we get swing low for wave 5 and then sharp reversal, it will be great time to go long.

HunterCoder

- Gold created wave 1of3 during currently ongoing Wave C - Wave 2 is ongoing and with Wave 3of3 I'm expecting much lower prices. - This is my main scenario right now. - The key to differentiate between Bullish and Bearish scenario is to observe price behavior at next swing low. If price find a bid, we're in Bullish scenario, however if it keeps dropping we're in...

HunterCoder

- Gold can move in similar fashion that during previous correction and create contracting diagonal to the downside and then build impulsive Wave 5. - For this scenario I expect one more swing low and then series of higher highs.