Wednesday, 23 October 2013

Gold approaching a minor top

Hi Traders,

Before getting into the analysis of GOLD let's check some news.

I'm running some free webinars and free seminars (see below). To register click the links below.

All this powerfully organised & hosted by the mighty City Index in Sydney.

At the Seminar you will have a fair idea of "How to":
  • recognise & label each wave properly
  • predict the direction of new trends
  • correctly identify the starting point of new trends
  • determine targets
  • identify Entry and Exit point in daily, 4-hour and 1-hour charts.

Your approach to trading will change foreverThis is a chance NOT TO BE MISSED to get a true insight of Elliott Wave Trading. Hence, BE SURE THAT YOU GET YOUR SEAT!

If you want to be part of it call Richard Vatner +61(0)2 9270 3618 and mention "MDC" (Mario D. Conti) or leave a message. 


 Trading account opened on 16/10/13 (where I place some of the trades I suggest):

New Equity: +$284.9
Unrealized: 0.00


THE ANALYSIS: GOLD, approaching a minor top

Hi Traders,

Once again, GOLD  (now at 1335) did exactly as predicted. The "new significant uptrend - labelled "wave 3" (daily chart)" started up.

The yellow metal should reach a minor top shortly, followed by a minor retracement. Then the uptrend would resume.

The traders of the 1-hour & 4 hour chart might want to target the minor top around 1347-62 to avoid the subsequent pull back to 1313-07. 

The Traders of the daily chart might want to hold on till the minimum target at  1488 and maybe the area 1531-1534. 


Fibonacci Queen's clusters of targets (in green in the daily chart)


Other Fibonacci Targets

likely: area 1447-1462
possible: 1488
maybe: 1531-1534 


The daily chart displays wave 1 & 2 and started wave 3. If this is just a "two-step pattern" Gold should reach 1488 as a minimum.

It this a complete new trend and we are witnessing the mighty "wave 3", Gold might break the ceiling. At this stage I have no element to decide which one is which. 
HINT: always wait for a signal of the "wave oscillator" before getting in & out.    

weekly chart - click to enlarge

daily chart - click to enlarge


wave oscillator over the daily chart - click to enlarge


4-hour chart - click to enlarge

wave oscillator over the 4-hour chart - click to enlarge

1-hour chart - click to enlarge 

wave oscillator over the 1-hour chart - click to enlarge


No comments:

Post a Comment

Hi Traders. Tell me if you agree or (politely) disagree.

Note: only a member of this blog may post a comment.