GOLD GOLD is trading impulsively lower, probably making a five wave decline with the price now trading in an unfolding sub-wave 4- circled. This corrective wave 4 may find its resistance and a possible turning point lower around the 23.6 or 38.2 Fibonacci ratio, from where bears may again take over. Invalidation level is at 1269- as long as it holds we are looking lower. GOLD, 1H S&P500 E-mini S&P500 recovered sharply after that drop to the 2030 area where the market now shows signs of a completed three wave decline in wave IV, from August highs. Notice that the current leg up is much stronger than the previous decline, so we believe that a bigger uptrend is back in bullish mode, ideally in wave V that will be looking to hit a new all-time high. In the short-term however, be aware of a corrective set-back; ideally with wave B back to that broken channel that can become a good support next week. S&P500, 4H Gregor Horvat Gregor Horvat Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power! View All Post By Gregor Horvat Daily Look share Read Next US retail sales beat expectations with +0.8% – USD rises Yohay Elam 6 years GOLD GOLD is trading impulsively lower, probably making a five wave decline with the price now trading in an unfolding sub-wave 4- circled. This corrective wave 4 may find its resistance and a possible turning point lower around the 23.6 or 38.2 Fibonacci ratio, from where bears may again take over. Invalidation level is at 1269- as long as it holds we are looking lower. GOLD, 1H S&P500 E-mini S&P500 recovered sharply after that drop to the 2030 area where the market now shows signs of a completed three wave decline in wave IV, from August highs. Notice that the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
