Thursday, 11 September 2014

Gold: Price is looking like more downside action is in store

Only a 'fundamentals' shock can bring a material rise in Gold at this stage. It look like it wants to keep going down. Right now price looks like it is prospecting to the downside below 1240.

Tuesday, 9 September 2014

Aud: Some upmove might be in store

By the way there is one thing I note. wave 3 is about 120 pips and wave 5 so far is about 90. The EW rule is wave 3 cant be the shortest wave so if this is not the bottom then the bottom should be not more that 25 pips away. Zooming in to that 'bottom' it looks like a triangle is forming so I am checking it out closely.