300 Minute Bars
Prepared by Jamie Saettele, CMT
"Analyzing structure from the July low suggests that a series of 4 th and 5 th waves should unfold. In other words, gold is headed higher but with corrections along the way. The latest correction ended just before the former 4 th wave extreme at 1720 and price is expected to reach a new high before the next 4 th wave begins. Look higher." Gold has reached its Elliott channel therefore the 4 th wave correction may begin soon. Support comes in at 1815/40.
Trend Strength (M,W,D) - 3 , 3 , 3
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosses on Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream . A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market . Send requests to receive his reports via email to jsaettele@dailyfx.com .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
