Saturday, 12 October 2013

GOLD, perfect entry

Hi Traders,

 Before getting into the analysis of GOLD let's check some news.

 I'm running some free webinars and free seminars (see below). To register click the links below.

OCTOBER CALENDAR
  • Monday 28 October - Free Webinar (8-9pm, Sydney time). I don't have the link to this webinar yet. 
All this powerfully organised & hosted by the mighty City Index in Sydney.

MOST IMPORTANTLY
  • Monday Nov 11 and Tuesday Nov 12: ELLIOTT WAVE BOOTCAMP, (16 hours) in a venue to be confirmed soon.
At this BOOTCAMP you will be taken on a journey through the identification and practical use of Elliott Waves.

You will be able to:
  • recognise & label each wave properly
  • predict the direction of new trends
  • correctly identify the starting point of new trends
  • determine targets
  • identify Entry and Exit point in daily, 4-hour and 1-hour charts.

Your approach to trading will change forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!


If you want to be part of it call Richard Vatner +61(0)2 9270 3618 and mention "MDC" (Mario D. Conti) or leave a message. 
...

FINALLY,

I set up a trading account where I place the trades I suggest. I'll keep you posted.
...
THE ANALYSIS: GOLD, perfect entry


Hi Traders,

GOLD did exactly what I predicted on Oct 12 and completed an a-b-c retracement. It's  now supposed to start a new uptrend. This is confirmed by the 4 red candles in the daily chart, which is usually a reliable reversing pattern.

If this analysis is correct, the commodity may get to the area 1549-1561 and beyond.   

TARGETS

likely: area 1447-1462
possible: 1488
maybe: 1549-1561 

ELLIOTT WAVES

With the low around 1261 and a close around 1271-72, GOLD performed a 66% retracement of impulse wave 1 (daily chart). This retracement is displayed in the daily chart as wave 2.

FURTHERMORE:

In the 1-hour chart Gold is supposed to make another minor attempt to touch the low at 1261 or slightly lower as it didn't performed all 5 little ripples  downwards yet (in the 1-hour chart). This could happen at the opening or few hours after the opening.

Then a new significant uptrend - labelled "wave 3" (daily chart) - should take place.

NOTE:

If a temporary rise of the "debt ceiling" is agreed by the American Congress  but its NOT followed by a definitive agreement within Nov 22, The FED might be attempted to sell some gold'to pay the debts, with devastating effects on the commodity.

 BTW: so far there's no "sign" of such an event in the charts.

HENCE: manage your stops and, overall, wait for a signal of the "wave oscillator" - in the 1-hour chart - before getting in.    
    

weekly chart - click to enlarge







daily chart - click to enlarge







wave oscillator over daily chart - click to enlarge







4-hour chart - click to enlarge







wave oscillator over 4-hour chart - click to enlarge






1-hour chart - click to enlarge



wave oscillator over 1-hour chart - click to enlarge

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Monday, 7 October 2013

GBPUSD, double top

Hi Traders,

Plenty of news this week

I'm running 2 free webinars and a free seminar each month in Sydney (see below). To register click the links below.

 OCTOBER CALENDAR
  • Monday 28 October - Free Webinar (8-9pm, Sydney time). I don't have the link to this webinar yet. 
All this powerfully organised & hosted by the mighty City Index in Sydney.

MOST IMPORTANTLY
  • Monday Nov 11 and Tuesday Nov 12: ELLIOTT WAVE BOOTCAMP, (16 hours) in a venue to be confirmed soon.
At this bootcamp you will be taken on a journey through the identification and practical use of Elliott Waves.

You will be able to:

  • recognise & label each wave properly
  • predict the direction of new trends
  • correctly identify the starting point of new trends
  • determine targets
  • identify Entry and Exit point in daily, 4-hour and 1-hour charts.

 Your approach to trading will change forever. This is an unmissable chance to get a true insight of Elliott Wave Trading. Hence, don't miss it!


 If you want to be part of it call Richard Vatner +61(0)2 9270 3618 and mention "MDC" (Mario D. Conti) or leave a message. 
...

Furthermore, Sydney Traders, our trading group in Sydney,  will get together on Tuesday Oct 8th for a "MeetUp" + a drink at the Establishment Hotel in George St. (check here)
...

 FINALLY,

 I'm setting up a Trading account where I place the trades I suggest. I'll keep you posted.
...
THE ANALYSIS: GBPUSD, double top


 GBPUSD, now at 1.6040, performed a double top in the 4-hour chart. If the pullback (up) stops in the area 1.6102-1.6162 it might start a downtrend to the area 1.5708-1.5688.

TARGETS

 likely: 1.5824
possibly: area 1.5708-1.5688
maybe: 1.5552-1.5536

ELLIOTT WAVES

 The daily chart displays a 5 waves up. This pattern should be followed by a corrective a-b-c (downwards).

 In the 1-hour chart it should retrace up to the area 1.6102-1.6162 before starting the new downtrend.


 NOTE

 This situation was created by the recent facts occurred in USA. If no agreement is reached in the congress (about the rise of the debt ceiling), the uptrend could resume.

 Also, the present downtrend is pulling back up to 1.6101-1.6131 and maybe to 1.6162. Hence, wait for the wave oscillator in the 1-hour chart to "turn into  selling mode" before taking any short position (not ready yet).


weekly chart - click to enlarge 


daily chart - click to enlarge

wave oscillator over daily chart - click to enlarge


4-hour chart - click to enlarge







1-hour chart - click to enlarge


wave oscillator over 1-hour chart - click to enlarge



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