Gold XAUUSD Daily Update

Just a re-labeling of my daily chart due to bullish count invalidation.

Please notice where is the ultimate wave 4 bottom area: 1539 - 1525.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-daily-update_18.html

Gold XAUUSD H4 Update

Impulsive bullish count has been invalidated, so bearish alternative count is in play.
Target for wave C is 55 min.

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-update_18.html

Gold XAUUSD Daily Update

After invalidating bullish count , this is what I do expect from Gold, so if You are bullish please take it into considearion

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-daily-update_14.html

Gold XAUUSD H4 Update

Please notice the alternative count that points to futher losses in Gold as wave 4 has not moght be finished yet. Break below latest swing low will confirm the alternative count.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-update_13.html

Gold XAUUSD Daily Update

Please notice the alternative count for Gold: wave 4 has not been finished yet in this count.
Bullish count invalidation level on chart.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-daily-update.html

Gold XAUUSD H4 Update

So far, so good.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-update_12.html

Gold XAUUSD H4 Update

So far so good.

Stalking this count to buy gold on wave 2 retracement...

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-update_10.html

Gold XAUUSD H4 Update

Still waiting for 1672 to be hit.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-update_7.html

Gold H4 & Daily Update

Slightly re-labeled the count as wave 5 seems to be more extended than I thought.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-h4-daily-update.html

Gold XAUUSD H4 Update

Look like Gold might have bottomed.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-update.html

Gold XAUUSD H4 Upadte + TPI

 Rationale
First target hit ( orange rectangle) As Mentioned Erlier (AME) !!!
Waiting for second rectangle to be hit, so far it looks nice for shorts, so You can place a sell order with tight stop above the purple line.

Entry:
Sell Limit area between 1707 - 1710
SL:1711 (TIGHT STOP!)
TP: 1675
R/R: 8:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-upadte-tpi.html

Gold XAUUSD H4 & Daily Update

Rationale:

Two counts here: for Bulls (Daily) and for Bears (H4).
There are two orange rectangle levels where buying is possible but as soon as price action will not become impulsive in order to develop wave 1 of 5 - take the profit and run because under the round number of 1700 might be lot of stops and if triggered price  might easyly slip to another support that is lower.

Lack of impulsive development is valid reason to sell gold.

Entry: Buying into rectangle levels 1704 - 1703 with very tight stop.
SL: TIGHT!
TP1:1730
TP2:1750

R/R: 5:1 and 10:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/gold-xauusd-h4-daily-update.html

Gold XAUUSD H4 Update

The trade is deep in red but I'm waiting for the trend to resume: the price retraced almost 61% of spike down. Silver retaced all spike down so that might be a clue...

SL did not work after /minute spike down...

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-update_30.html

Gold XAUUSD H4 Update

My long position are deep in red after candle down in 1min.
I refuse to close this longs for now but below 1700 I'm out.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-update_28.html

Gold XAUUSD H4 Update

Longs in play as posted erlier.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-update_27.html

Gold XAUUSD H4 Update + Trading Plan Idea

 As I wrote in the previous post:

Rationale:
I'm bullish on Gold due to the fact that wave 3 hasn't been finished yet.
Entry:
Buy Limit @ 1747, 1743 and 1738 (former support)
TP: min.1772
SL: 1735 ( if price move below that level my EW count will be invalidated)
R/R: 2:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-update-trading-plan-idea_27.html

Gold XAUUSD H4 Update + Trading Plan Idea

Rationale:
I'm bullish on Gold due to the fact that wave 3 hasn't been finished yet.
Entry:
Buy Limit @ 1747 and 1738 (former support)
TP: min.1772
SL: 1735 ( if price move below that level my EW count will be invalidated)
R/R: 2:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-update-trading-plan-idea.html

Gold XAUUSD H4 & Daily Update

Looks like there is almighty wave 3 in progress.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-daily-update.html

Focus on gold

Once again, focus on Gold !
Key resistance level is clear, we need to clear that "trigger" first !

Source | Alpha Global Investors | http://gicharts.blogspot.com/2012/11/focus-on-gold.html

Gold XAUUSD H4 Update

Classic ABC as wave 2 here.
More upside to come.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/gold-xauusd-h4-update_20.html