Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

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http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Showing posts with label Silver. Show all posts
Showing posts with label Silver. Show all posts

Wednesday, July 31, 2013

Silver Vs Gold

The weakness in Silver is a concern for the bulls and in my opinion is suggesting the move to the upside for Gold is more corrective than impulsive, whilst we can make the case for an impulsive move on Gold, we simply cant make the same case due to the weakness shown in Silver.

Currently there are 6 swings, a WXY corrective sequence requires 7 swings, so a move to minor new highs would be fitting for both ideas.

Silver to $20.70-$21, Gold to $1380-1400 would complete a potential corrective bounce.

A rejection at those areas will be a bad sign for the bulls and suggest the move we have seen over the past 4 weeks is simply a corrective bounce in a bear trend from the last 18 months.


The FOMC is to issue a statement on Wednesday, for the bulls to revive any sort of bullish upside idea, the FOMC needs to be more supportive of QE, perhaps even expanding it and the market needs to believe the FOMC is committed to more QE and $$ printing.

Failing that, if the US$ sees more strength i suspect the previous metals setup for a reversal.


Thursday, April 25, 2013

Is Gold Really Bullish?

If you only looked at Gold you could be thinking its strong and bullish looking, and i would agree with that, its most certainly stronger than the other metals.

But the clues from Palladium as well as Silver could also be telling the next likely price action in the metals.

If you look carefully at PA and SI they suggest a triangle, and i suspect its a 4th wave triangle, so whilst GC has pushed higher the other metals have lagged severely.

The next expected decline on SI and PA is a move lower and "thrust" lower for wave [v], so i still suspect Gold will follow and eventually push lower and join the other metals when they have finish the triangle patterns.

Sunday, September 30, 2012

Elliott Wave Analysis of Silver



Market Report: Elliott Wave Analysis of Silver
The advance from the pivot lows on 25th Jul have seen strong moves in the US$, Gold and Silver, we can clearly see that they are moving opposite to each other.

Using AGQ as a proxy for the price of Silver I suspect it’s in a smaller 4th wave and looking for higher prices over the coming weeks and the decline on the US$ appears to setting up for more downside.
There is likely to be some back and forth filling as this market like Gold has come into stiff resistance.
Gold resistance is at $1800, Silver resistance is at $35, and with a wave count that suggests a bit of consolation, we could see a bit of sideways price action for a few days before further upside expected

Sunday, August 26, 2012

Elliott Wave Analysis of Silver



With the explosive moves in Gold and Silver, it looks like a good opportunity to post a potential set up on Silver.

I am using a very popular ETF to represent Silver as many traders don't have access to the big Silver contract such as SI, but that aside its essentially the same as Silver, only its paper trading.

The key point i want to make is that i personally still think this is a 3 wave move much like the move in Gold, although this may morph into something far more bullish, staying below $30.80-31 on Silver and $1680-1700 on Gold is potentially a cluster of resistance that could be more important than traders realise.

Whoever controls those price areas likely decides the next serious move, up or down.

The bulls in Gold and Silver need to follow through with this move, the bears need to see a strong reversal

So it looks like the Jackson Hole meeting could be the decider and confirm the trends.

I strongly suggest watching for a reaction from the $30.80 area on Silver, its a big area and IMO will decide the larger trend.

Friday, July 20, 2012

Crude Oil Arbitrage




You can see how Oil has gone berserk for the last few days, but yesterday was contract roll over from the Jul to Aug

So i suspect the shorts have been blown out of the water, the last time Oil tried to go it alone, it fell back to reality (middle of May)

Using the patterns on the precious metal could be a vital clue on oil, as the advance, although strong has been in 3 waves, and we have not seen the metals follow

A strong break under $89 will be a strong clue of a reversal, target is under $75

Hint: Silver is below and if you click the Gold link on the right hand side it will show you the Gold ideas. I am sure you can work it out from that.

Thursday, July 19, 2012

Elliott Wave Analysis of Silver









Slowly this has now come into important areas to confirm or negate this idea, as long as its under $28.45 the setup remains

I have been tracking this for weeks, if you click on the Gold section you will note the same idea, so both the precious metals appear to be involved in a triangle which should lead to a strong break lower

Like any pattern there is always the chance of the pattern being negated, that point is $28.45, as long as it remain under that area, the market remains on a sell

Friday, May 18, 2012

Silver Analysis






Nothing special just an area of MUST hold support at $28.30, if this area breaks then its game over! and the trap door opens to $17.50.

Dont be a hero if the floor breaks, take the pain and get out, it will be much less painful at $28.30 than $17.50

Sunday, April 15, 2012

Elliott Wave Analysis of Silver




Elliott Wave does not work?

Well thats what many keep telling me.

So why is that i am short silver then? and looking for $30.80

My answer: Go and learn how to use it properly or stop following "so called" Elliotticians who cant count to 10 let alone count Elliott Waves

The Elliott Community knows who can count waves and frankly who is a disgrace to the Elliott Community

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A great short term setup whilst the markets are in chop mode, perfect reversal, and aligned exactly with our current long term ideas atm

"This aligns with the Gold move as being a corrective rally and suggest an ABC advance with the thrust wave from [e], so resistance at the 1x1 aligns with the 20DMA

So watch Gold as it enters near $1680"


Gold hit $1680 in exact alignment to this silver idea, simple effective analysis

$1680 has been a great area for us on the upside and downside, i took that trade late last week

Saturday, March 17, 2012

Elliott Wave Market Newsletter (Weekend Edition)

While its free i suggest taking a look at the contents in this weeks newsletter

http://www.wavepatterntraders.com/ElliottNewsletter/WPT-18-03-2012.pdf

Analysis on EUR/USD, SPX,DOW,RUT,FTSE,DOW UTIL,GOLD,SILVER &Bonds

The trial ends on 29th March 2012

Read the rest here.

here.