this is playing out nicely now. EW - basic or not - helps us map where we are and what options remain. I'll post my updated count in a few hours.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

PA today has been annoying and hasn't done a lot for my mood. Strange that on the day most members here (including me) have very strong opinions about direction, we all get nothing to share. Also disappointed my EW presentation hangs with nothing to ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

judging by how long PA is taking to crack it, 1276 would make a great combination for a safe.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

if my count is correct, that was subwave a and subwave b of wave 3 According to EW, PA to the upside should gather momentum now. Let's see. this being a C wave up means it will not subdivide into three waves (A, B and C) but into five waves (12345). ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

day-bulls - don't despair - we're about to go up

XAU/USD & XAG/USD - Gold & Silver Traders Thread

As The Rhodie mentioned before, the 1276 level is an important Fib level. It is the 62% (0.618) retracement of the July/August advance. The market is really getting its knickers in a knot around this level but the irony is that the July/Aug advance ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Aware that I'm constantly refering to Elliott Wave (EW) counts, I want to post two charts that relate to my earlier post in reply to KiwiOz. The first is a M15 projection of an ideal wave up to the 1306 area. Price could print lower or higher ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

sensible plan, let's see how PA corresponds. I notice with Gold that the B-waves are quite strong and sometimes do a 138% retrace of wave A, so that might be an interim scalp after the first target at 1284... wait for target 1, lookout for A-B and ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

what convinces me that the current wave up has strong momentum is that it is (count-wise) a C wave which is impulsive and therefore swift with little retracement. Secondly, that notion is confirmed by RSI and MACD which have been topped out since ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

guys can we calm down with the crash talk please... we're $100 above the 2013 low, so that being taken out is only a matter of time, but there is nothing in the indicators or wavecount that warrants a move lower today - in fact we need to correct ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

i predict we get a bounce up to 1300 and then i assume a drop down from there to 1200

XAU/USD & XAG/USD - Gold & Silver Traders Thread

taking a look at the sideways action since friday's low this spike down looks like the 5th and last wave of a channeled move toward the sonfluences in the 1275 area, so my sense is that PA goes up from here toward 1300 or 1306 levels. I'd think the ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Gold "Houston, we have a sputtering lift-off..."

XAU/USD & XAG/USD - Gold & Silver Traders Thread

hi vaidas, just as a remark: i wouldn't take anything the dailymail says seriously... 1276 seems to have been the session low, toward 129x/130x would make sense

XAU/USD & XAG/USD - Gold & Silver Traders Thread

thanks adam, that looks feasible. we'll have to wait to see it touch the TL to be sure. edit: by triangle theory we should be heading to 1350 round about now

XAU/USD & XAG/USD - Gold & Silver Traders Thread

weekly triangle? maybe a chart would illustrate your point...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

hey... why has the thread suddenly gone all quiet? ... you're all over at yayahan.com aren't you?!

XAU/USD & XAG/USD - Gold & Silver Traders Thread

yep... PA is boring today but Gold is not boring as evidenced by "The Golden Queen"! image

XAU/USD & XAG/USD - Gold & Silver Traders Thread

true, and i just read the latest marctomarket article which ends with "US holiday means consolidation during the session"... but sometimes the low liquidity can result in relatively big moves if a trend gets going... let's hope someone eases in some ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

hi KO, this is what I expect to see also: divergence to the downside and then a thrust up toward the 1295/1300 area. Downside at the moment is really choppy and not characteristic of a wave advancing the downtrend... perhaps we get a low around 1277 ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread