Gold according to my vision

Hi all ..

I try to show my vision about gold, by using XAUUSD charts in different frames.

My tools is a technical & elliottican analysis. Comments are welcome...



In begining, i would show a preceding uptrend, see how many times gold give a buy signal and sell signal!! ... that what happen when market is trending, but when trend changing i prefer to sidestep trading untill a good signal of a new trend shown.


some times i use elliott wave to anticipated next move..

What is my vision ( long term) ? I think gold start a new era of downtrend maybe leading price of gold less than 1000 as a first target..that vision built depend on EWP.

What is so important how could make a profit? when u know the major trend or potential trend, you pass half a way, just use a technical analysis to catch the top for sell and bottom for close trade.


Now lets see whats chart tell us ..

Until now, there are 2 potential count, first wave 2 finished, the second wave 2 is underway.
So I prefer to waiting untill next week maybe some clues would float on surface.

I agree with your wave count. Attached is my wave count that was posted on some other forum yesterday.

http://www.trade2win.com/boards/imag...ad-starter.gif It looks like the market decides to take the alternative wave count. No matter it is in the process of wave-b or wave-7, the primary direction of GC is south.

Thats great ..

Now gold make a new low ....

For short term analysis, I expect the Gold forming symmetrical triangle in 5 min chart, its good opportunity to buy it for very short term targets

Good luck

After nearly 1 year, here we go


Gold is under pressure, gold trader or gold stock trader should be aware to catch the opportunity

Did you stop after a few bad calls?

still alive

but the trading currentley not my priority. however I am regularly wach makets. the gold doing great after last post.

Hi, but it may now be turning down. No less a person than Warren Buffett panned gold as an investment the other day. According to this P&F chart it may be headed down to $1660 levels.

how to read chart like that?

An excellent primer is available at StockCharts.com school, along with suggested reading material. Should be worth your time and effort to check this out. Happy reading!

The prices are used as the support and resistance level and in the point and figure chart the time factor is not so much of a consideration if I am not wrong. When I traded with FXCM a few years back they had this feature where you can generate the P&F chart. Not sure if they still have this.