GOLD Gold has finished (or is finishing ) it's wave "a". Correction wave "b" can extend to 895-877 price level. From that point uptrend will continue EUR EUR/USD made reversal and uptrend wave "a" is already finished. Correction can extend to 1.4525 but minimal target is 1.4620 Notice: Because of the strange wave length sizes there is small chance that downside trend can resume and my wave count is wrong now GBP Finally pair did reversal and now is forming wave "a" of the upside move. Next target is 2.0000 level
This is how I see silver with elliott. I think we will see a decent correction. Let me know what you think http://www.commoditiesvue.com
I forgot to say that I will not comment anything in this thread. Feel free to comment and discuss it but without me. I will comment 'commoditiestrdr' as exception.. Your wave labeling is wrong. I see no impulse wave on this degree that you are talking about. However, correction is will take place soon
newer traders, stay away from this Elliot Wave crap. As he said on another thread (and as usually happens), "well wave 5 could have been 3" You will find that with Elliot Wave, it will be constantly be wrong in such a way as to find it has no value. Here is another thought. Scrape EW out of your trading. There is no evidence that the market moves according to 5wave dominant or 3wave corrective patterns. As many have said, people read patterns into the market (and as in 6 sense "They see what they want to see). EW is unfounded. So, throw out the smoke and mirrors and find something that is proven to have value. This vendor it trying to make a business by dragging newer traders into this so they can lose their money.
EUR/USD EUR is still forming correction that should reach at least 1.4730 target. After this correction uptrend will continue. GOLD Gold has passed minimum requirements for correction wave length and could start forming uptrend this week. Notice: wave count on this chart could be different, but it does not change long term outlook GBP/USD The pair is finishing sharp correction and minimal requirements are already met and uptrend can resume any time. First uptrend target is 2.0030 and next one could be 2.0270. Uptrend will be developing in form of zigzag
Do yourself a favor and put Mr. Canfield on IGNORE. He is the kind of guy that just loves to argue . . . I simple search on his screen-name will reveal a thread that goes on for something like 75 pages because he is simply not an advocate of ANY technical analysis tool. Good Luck.