Elliott wave analysis blog - EUR GBP USD GOLD weekly

Gbp



Finally pair did reversal and now is forming wave "a" of the upside move. Next target is 2.0000 level
 
Eur



EUR/USD made reversal and uptrend wave "a" is already finished. Correction can extend to 1.4525 but minimal target is 1.4620

Notice: Because of the strange wave length sizes there is small chance that downside trend can resume and my wave count is wrong now
 
Gold



Gold has finished (or is finishing ) it's wave "a". Correction wave "b" can extend to 895-877 price level. From that point uptrend will continue
 
Can someone give an honest answer on whether elliot waves analysis really works? it supposedly requires a bit of experience and training, so i wouldnt want to investment too much time into it if it renders useless.
 
Can someone give an honest answer on whether elliot waves analysis really works? it supposedly requires a bit of experience and training, so i wouldnt want to investment too much time into it if it renders useless.

It takes couple of years. If you will start now you can make it.
 
Can someone give an honest answer on whether elliot waves analysis really works? it supposedly requires a bit of experience and training, so i wouldnt want to investment too much time into it if it renders useless.


WHY make life complicated - :-0
 
EUR/USD


EUR is still forming correction that should reach at least 1.4730 target. After this correction uptrend will continue.

GOLD


Gold has passed minimum requirements for correction wave length and could start forming uptrend this week.

Notice: wave count on this chart could be different, but it does not change long term outlook

GBP/USD


The pair is finishing sharp correction and minimal requirements are already met and uptrend can resume any time.

First uptrend target is 2.0030 and next one could be 2.0270. Uptrend will be developing in form of zigzag
 
Gold must be forming wave "C" that should reach 883 level as minimum or even lower.



GBP/USD will jump into 1.9620 area and continue to decline.



EUR/USD is topping below 1.47 level. Decline should follow afterwards to 1.44-41 level.




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Situation is global for all 3 charts - correction phase started. Minimal targets are 30%. You can place ongoing sell orders after rallies that will not lead to new heights.

EUR/USD


GBP/USD


GOLD




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On Monday we showed you why blatant wave patterns on four different time frames pointed lower.
On Tuesday, price showed you why this remains a frustrating and indecisive marketplace. Instead of
taking the opportunity to continue south, the indices again decided to rally to stay in the violent but
eastbound seven week range its been in since August. This marks the ninth huge swing in the past
seven weeks, and it’s making for an incredibly exhausting process as we debate the possiblity of
truncations here and deep retracements there. This is a really tough pattern no matter how you slice it.
Every single move has possessed impulsive attributes at some point in its progression, but it never
lasts for long. All we can do is be aware of how this is going to resolve (once it finally does) by
understanding all possible labelings. That’s the game plan again tonight. We’ll look at every single
labeling that needs to be considered after this latest swing. We’ll again come to the conclusion that this
market is headed lower because that’s the only sensible resolution. In the meantime, we have to go
neutral on our near-term stance because these swings are just too much to sit through. On any larger
time frame, we remain bearish because the pattern on any larger time frame remains bearish.
 
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