This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Monday, April 27, 2009
Gold Topped, Should Accelerate Lower and FAST; April 27, 2009
Gold appears to have topped at the area of the previous wave 1 extreme at the 918 area. It should now decline in a wave (iii) of (3), so selling should be very fast and ferocious. A reluctance to selloff massively in the next couple days will call this current short term count into question.
I remain short with a stop at $950
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