Monthly Archives: March 2015

Gold

According to the expectations :

Gold apparently is correcting the impulsive wave i of the circle degree, in the three waves up correction – as wave ii (circled). And, a following third wave of the same degree will likely ahead…

Fibonacci targeting :

The expected target for extreme of the overall corrective sequence as the wave ii of circle degree, could be around the Fibonacci 0.618 retracement level at 1245. Also the wave ii (circled) will likely last until mid April, when is the Fibonacci 0.618 time ratio.

Gold - Daily

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Silver

According to the expectations :

Silver appears to be correcting the leading diagonal wave i of the circle degree, in the three waves up – as wave ii (circled). And, the following third wave of the same degree will likely ahead…

Fibonacci targeting :

An expected target for extreme of the overall corrective sequence as the wave ii (circled), could be around the Fibonacci 0.786 retracement level at 17.83. The wave ii (circled) in progress, will likely last through early April when is the Fibonacci 0.618 time ratio.

Silver - Daily

Platinum

Adjusting the wave count :

On this frame of Platinum’s daily chart, I’ve shifted to second alternative on weekly analysis. Adjusting the wave counting of the ongoing wave (B) to the subsequent formation of W -Triangle X – Y .

Under the alternate view, the three-waves abc of the circle degree – as wave Y is likely in progress.

Currently, Platinum is correcting up, after completing a five-waves down likely as first wave of wave c (circled).

Note : The first and third waves of the wave (i), more look in three waves on the daily chart. But I necessarily treat the wave (i), as an impulsive five-waves sequence.

Platinum - Daily

Silver

According to the expectations :

Silver apparently is continuing to correct the extended wave (a), in the three-waves sequence (b). The current rise could be wave b of (b), and decline of wave c is probably ahead…

Fibonacci targeting :

The Fibonacci 0.618 retracment level – now at 16.08, could be considered as an adequate target for the ongoing wave (b).

The ultimate target as extreme point of the overall corrective sequence as the wave ii of circle degree, could be around the Fibonacci 0.786 retracement level at 17.83. The ongoing wave ii (circled) will likely last through early April, when is the Fibonacci 0.618 time ratio.

Note : According to Elliott Wave Principle, “A leading diagonal in the wave one position is typically followed by a deep retracement.”

Silver - Intraday 600Silver - Intraday 240

Gold

According to the expectations :

Gold apparently is continuing to correct the wave (a), in the three-waves sequence (b). The current rise could be wave b of (b), and decline of wave c is probably ahead…

Fibonacci targeting :

The Fibonacci 0.618 retracment level at 1171.7, could be considered as an adequate target for the ongoing wave (b).

An ultimate target as extreme point of the overall corrective sequence as the wave ii of circle degree, could be around the Fibonacci 0.618 retracement level at 1245. Also on the 360-minute chart, it appears the ongoing wave ii (circled) will last until mid April, when is the Fibonacci time ratio 0.5 .

Gold - Intraday 360Gold - Intraday 120