Gold Is Coming Out of an Elliott Wave Triangle
Gold remains in a strong and impulsive five-wave bullish cycle on a daily chart.
Gold remains in a strong and impulsive five-wave bullish cycle on a daily chart.
Gold moved to new ATH as expected after price action from the last two months looked corrective.
Gold is in a sharp recovery this year, displaying a robust rally since breaching the March highs of $2,133.
Silver has seen a significant rise over the past few weeks, highlighted by the development of a potential H&S pattern with a breakout above the neckline.
Gold has seen a bullish trend over the past few months, and we are currently witnessing strong and accelerating price action.
Gregor Horvat's specialty is Elliott Wave Theory which can be very helpful, especially if you know how to use it in combination with other tools/indicators.
Gregor's approach to the markets is technical, and covers a combination of market sentiment and important events that can cause a change in cycles. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators, and of course, fundamental aspects as well - mostly the hawkish/dovish policy of CB, which are the main drivers for investors' decisions.
Gregor Horvat is the CEO and chief analyst at Wavetraders. His involvement in the markets goes back to 2003, and he worked for Capital Forex Group and TheLFB.com before becoming the owner of the trusted and respected Ew-Forecast portal.
Gregor's feature articles have been published on many well know websites such as FXstreet.com, Thestreet.com, Action Forex, Barchart, Investing, Insidefutures, and he appeared on Real Vision TV in 2019. He is also part of a team at Forex Analytix, and a regular speaker at the very popular F.A.C.E show, where he presents his Elliott wave analysis and opinion. He also won the award on FXStreet.com for Best Forex Analysis in 2016, plus Best Buy-Side Analysis in 2018.
Gregory enjoys teaching and helping other clients and shares his opinion about the Elliott wave principle and how to label and track unfolding patterns in real-time. Elliott waves are his passion!