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.

OCTOBER CALENDAR

 

• Monday 28 October - Free Webinar (8-9pm, Sydney time) or check the button (next free webinars) 

• Thursday 31 October - Free SEMINAR (6-8pm, Sydney time) or check the button (next free seminars)

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 forever. This 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. 

...

FINALLY,
 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. 

TARGETS

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

1408-1412
1465-75

Other Fibonacci Targets

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

ELLIOTT WAVES

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

 

EURUSD, targets

Hi Traders,

I checked the targets of the EURUSD by means of the technique developed by the Fibonacci Queen (Carolyn Boroden) and I got some interesting result.

As you can see by the daily chart we have some "Clusters of Projections". The "old one" was at 1.3673.

I dare say that the Euro was perfectly on target on Friday given that we had a top around 1.37.

The other two targets are equally interesting as you can see below. The hypothetical reason explained below.

TARGETS

likely: area1.3798-1.3820

possibly: around 1.4070

ELLIOTT WAVES

The Euro is performing a two-step pattern (1-2-3) in the weekly chart. Wave 1 & 2 developed completely. Wave 3 will be sub-divided in 5 smaller waves. Of these, wave 1 & 2 are completed (daily chart). Wave 3 should top at level 1.38.

weekly chart - click to enlarge

daily chart - click to enlarge

AUDUSD, double top

Hi Traders,

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

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

OCTOBER CALENDAR

• Monday 14 October - Free Webinar (8-9pm, Sydney time) or check the button (next free webinar)

• Monday 28 October - Free Webinar (8-9pm, Sydney time). I don't have the link to this webinar yet. 

• Thursday 31 October - Free SEMINAR (6-8pm, Sydney time) or check the button (next free seminar)

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

MOST IMPORTANTLY

• Monday Nov 11 and Tuesday Nov 12: ELLIOTT WAVE BOOTCAMP, (16 hours) in a venue to be confirmed soon.

At this BOOTCAMP you will be taken on a journey through the identification and practical use of Elliott Waves.

You will be able 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 forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!

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. 

...

FINALLY,

I set up a trading account where I place the trades I suggest. I'll keep you posted.

...

THE ANALYSIS: AUDUSD double top

Hi Traders,

AUDUSD performed a double top on the 4-hour chart. It seems to be heading to 0.9237.

TARGETS

likely: area 0.9385-0.9382
possible: 0.9358-0.9349
maybe: 0.9237

ELLIOTT WAVES

It's hard to believe that the retracement of wave 1 (from point d - in magenta -  to point 1 - in red) in the weekly chart is complete unless the US dollar strengthens tremendously in the incoming days.

At present I prefer the solution of an Aussie retracing a bit to 0.9237 with an  a-b-c (daily and 4-hour chart) and then heading back to 0.97 in 5 waves. 

NOTE:

If a temporary rise of the "debt ceiling" is agreed by the American Congress  but its NOT followed by a definitive agreement within Nov 22, The FED might be attempted to sell some gold to pay the debts, with devastating effects on commodities and currencies.

BTW: so far there's no "sign" of such an event in the charts.

ENTRY: entry around 0.9443-47 but wait for a signal of the "wave oscillator" - in the 1-hour chart - before getting in.
  

monthly chart - click to enlarge

    

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over 4-hour chart - click to enlarge

1-hour chart - click to enlarge

wave oscillator over 1-hour chart - click to enlarge

GOLD, perfect entry

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.

OCTOBER CALENDAR

• Monday 14 October - Free Webinar (8-9pm, Sydney time) or check the button (next free webinar)

• Monday 28 October - Free Webinar (8-9pm, Sydney time). I don't have the link to this webinar yet. 

• Thursday 31 October - Free SEMINAR (6-8pm, Sydney time) or check the button (next free seminar)

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

MOST IMPORTANTLY

• Monday Nov 11 and Tuesday Nov 12: ELLIOTT WAVE BOOTCAMP, (16 hours) in a venue to be confirmed soon.

At this BOOTCAMP you will be taken on a journey through the identification and practical use of Elliott Waves.

You will be able 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 forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!

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. 

...

FINALLY,

I set up a trading account where I place the trades I suggest. I'll keep you posted.

...

THE ANALYSIS: GOLD, perfect entry

Hi Traders,

GOLD did exactly what I predicted on Oct 12 and completed an a-b-c retracement. It's  now supposed to start a new uptrend. This is confirmed by the 4 red candles in the daily chart, which is usually a reliable reversing pattern.

If this analysis is correct, the commodity may get to the area 1549-1561 and beyond.   

TARGETS

likely: area 1447-1462
possible: 1488
maybe: 1549-1561 

ELLIOTT WAVES

With the low around 1261 and a close around 1271-72, GOLD performed a 66% retracement of impulse wave 1 (daily chart). This retracement is displayed in the daily chart as wave 2.

FURTHERMORE:

In the 1-hour chart Gold is supposed to make another minor attempt to touch the low at 1261 or slightly lower as it didn't performed all 5 little ripples  downwards yet (in the 1-hour chart). This could happen at the opening or few hours after the opening.

Then a new significant uptrend - labelled "wave 3" (daily chart) - should take place.

NOTE:

If a temporary rise of the "debt ceiling" is agreed by the American Congress  but its NOT followed by a definitive agreement within Nov 22, The FED might be attempted to sell some gold'to pay the debts, with devastating effects on the commodity.

BTW: so far there's no "sign" of such an event in the charts.

HENCE: manage your stops and, overall, wait for a signal of the "wave oscillator" - in the 1-hour chart - before getting in.    

    

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over 4-hour chart - click to enlarge

1-hour chart - click to enlarge

wave oscillator over 1-hour chart - click to enlarge

GBPUSD, double top

Hi Traders,

Plenty of news this week

I'm running 2 free webinars and a free seminar each month in Sydney (see below). To register click the links below.

OCTOBER CALENDAR

• Monday 14 October - Free Webinar (8-9pm, Sydney time)

• Monday 28 October - Free Webinar (8-9pm, Sydney time). I don't have the link to this webinar yet. 

• Thursday 31 October - Free SEMINAR (6-8pm, Sydney time)

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

MOST IMPORTANTLY

• Monday Nov 11 and Tuesday Nov 12: ELLIOTT WAVE BOOTCAMP, (16 hours) in a venue to be confirmed soon.

At this bootcamp you will be taken on a journey through the identification and practical use of Elliott Waves.

You will be able 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 forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!

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. 

...

Furthermore, Sydney Traders, our trading group in Sydney,  will get together on Tuesday Oct 8th for a "MeetUp" + a drink at the Establishment Hotel in George St. (check here)

...

FINALLY,

I'm setting up a Trading account where I place the trades I suggest. I'll keep you posted.

...

THE ANALYSIS: GBPUSD, double top

GBPUSD, now at 1.6040, performed a double top in the 4-hour chart. If the pullback (up) stops in the area 1.6102-1.6162 it might start a downtrend to the area 1.5708-1.5688.

TARGETS

likely: 1.5824
possibly: area 1.5708-1.5688
maybe: 1.5552-1.5536

ELLIOTT WAVES

The daily chart displays a 5 waves up. This pattern should be followed by a corrective a-b-c (downwards).

In the 1-hour chart it should retrace up to the area 1.6102-1.6162 before starting the new downtrend.


NOTE

This situation was created by the recent facts occurred in USA. If no agreement is reached in the congress (about the rise of the debt ceiling), the uptrend could resume.

Also, the present downtrend is pulling back up to 1.6101-1.6131 and maybe to 1.6162. Hence, wait for the wave oscillator in the 1-hour chart to "turn into  selling mode" before taking any short position (not ready yet).




weekly chart - click to enlarge 

daily chart - click to enlarge

wave oscillator over daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

wave oscillator over 1-hour chart - click to enlarge

USDJPY, almost there

Hi Traders,

I'm running 2 free webinars and a free seminar each month in Sydney.

October:

• Monday 14 October - free Webinar (8-9pm, Sydney time)
• Monday 28 October - free Webinar (8-9pm, Sydney time)
• Thursday 31 October - free SEMINAR (7-9pm, Sydney time)

All this graciously organised by the mighty City Index.

This is an unmissable chance to get a true insight of my Elliott Wave Trading. Hence, don't miss it!

This will be followed by a 2-days-long Elliott Wave BOOTCAMP in early November! 

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.

I'll come up with more details soon.

Finally, Sydney Traders will get together on Tuesday Oct 8th for a mini-seminar + a drink at the local. (check here)

...

USDJPY, almost there

USDJPY, now at 97.88, might complete the downtrend soon by reaching the final target at 97.43 and possibly the area 97.049-96.820 (4-hour chart). Then the uptrend should resume to take it to 105 and 112.

TARGETS

likely: 97.43
possibly: area 97.049-96.820
then uptrend


ELLIOTT WAVES

The daily chart displays a nice a-b-c followed by waves 1. Wave 2 (downwards) might finish soon.

NOTE

The present downtrend might stop at 97.66 or even 97.48 (1-hour chart). In doing so it would stage a double bottom and start the uptrend much earlier. Hence check the wave oscillator in the 1-hour chart before taking any position.





monthly chart - click to enlarge 

weekly chart - click to enlarge

daily chart - click to enlarge

wave oscillator over daily chart - click to enlarge

4-hour chart - click to enlarge

wave oscillator over 4-hour chart - click to enlarge

1-hour chart - click to enlarge

wave oscillator over 1-hour chart - click to enlarge