Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
NASDAQ
As with the other Indices, NASDAQ seems to be in the extension of the 5th wave from the 6620 bottom in a previous extended impulsive long-term wave. We are either in a Flat ABC or within the 2nd wave of a downside. It seems we are in ABC flat but we still don’t have a break above 12165 so a downside count with triangle consolidation is still valid it will be invalidated upon a break above 12250.
GOLD
Gold continued higher in the 4th wave from a 1200 bottom. This final wave is coming to an end as it is extended and reaching a new all-time high in a five-way up. We have a pullback 5 wave beginning and will accelerate below the 1920 channel and triangle resistance. We had a break below 1920 which was on a retest. A break below 1870 is required for a 3rd downside wave. Invalidation of a downside wave count will come only on a confirmed break above 2000 and will call for the 5th wave upside extension.
This article is so good, it's for premium members only.
Does that sound like you?
Go Premium to read full trading strategy with parameters of entry, stop loss, and exit. Why Premium?
Already a member?
TRY US FOR 30 DAYS GET ACCESS TO COMPLETE ANALYSIS
LEARN ELLIOTT WAVE ANALYSIS IN COMBINATION WITH PRICE ACTION!
