Captain Ewave
Captain Ewave Articles
Gold reached a low of 1150.10, in yesterday's day session before recovering to almost unchanged on the day. Our best bullish count remains that a major low is in at 11462.20 and that we are starting higher in either wave -d- or wave -iii-.
Gold failed to rally above the 1174.00 area and it seems likely now that we are probably going to revisit the 1162.00 area again. It is still possible that we are going to drop back to the 1155.80 also.
Gold was weaker in the overnight session reaching a low of 1169.10, at the time that this Post was being written. It appears that wave .b. of our wave -d- triangle is not complete at the 1168.10 low, as we had previously suggested so we...
Gold was marginally lower in the overnight session, reaching 1179.30 at the time that this Post was being written. On the intraday chart it is now looking like we are about to complete a five wave drop from 1205.05 to the current low.
On the attached Daily Gold chart, showing our preferred compressed wave (b) triangle Option, it looks like wave .b. of –d- may have ended at yesterday’s early morning low of 1171.90.
Gold was up smartly in the overnight session, reaching 1182.50, at the time that this Post was being written. We are working on the assumption that that we are now rallying in wave -d- of our compressed wave (b) Option 1. Wave -c- of this...
Gold rallied to 1194.80, in the overnight session, at the time that this Post was being written. As we said in yesterday's End of Day Post we now appear to have a three wave rally in place from 1181.10 to 1204.60, which suggests that gold...
Gold was sharply lower in the overnight session, reaching a low of 1193.60, at the time that this Post was being written. This drop eliminates all of our current options from further consideration, and opens up new ones.
After reaching a high of 1231.90 in yesterday’s session gold has traded sideways. The overnight low was 1216.90. The two options that we are following are:
We can now likely conclude that wave *ii* of .c. in gold has ended at 1178.20, a 20 tick failure on our charts, meaning we were targeting 1178, and gold went 20 cents shy of that.
