Gold Technical Analysis Report (GL18Z).
Richard O. Zamora, III; CMT • August 26, 2018
Elliott Wave Patterns in Action!
Technical Analysis consists of many
different types of fields of study to master.
Today, I wanted to introduce to you one of the most difficult to
recognize and to act upon – Elliott Wave Theory.
Looking at December 2018 Gold
Futures we notice that Wave (4) is beginning to take shape after a long Wave
(3) period which started on June 15, 2018. Elliott Wave Theory believes that Impulsive Waves
and their price
movements are made up of (5) waves; if we know how to recognize these waves
patterns, then we can anticipate and trade them for profit. Since it is evident that Wave (4) is
underway, traders can use this to plan for short-term gains by trading with the
upward trend. How much upside will Wave
(4) have before starting Wave (5) and resuming its downward long-term trend; and, more importantly - how do you trade it? Those are great questions that I can help answer through consultation; contact me today!
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