4H Chart (only sent on Mondays): From the 1.4938 high to the 1.3150 low, the market appears to have made a 3 wave move, which could be wave ABC of an downward zigzag or wave 1/2/3 of an downward impulse.
Gold price eases back to a six-week high as Equity, and currency markets crumble under mounting instability over European Sovereign Debt. Gold has come back strong overnight to finish well over 2.2% higher from where trading started.
4H Chart (only sent on Mondays): From the 140.00 high to the 116.92 low the market has made 3 main waves, either wave 1/2/3 of a downward impulse or wave A/B/C of a downward zigzag. Based on the length of the downward move, a wave 3 is more likely at...
From the 4840 low to the 5750 high there is a 3 wave movement, either wave 1/2/3 of an upward impulse or wave A/B/C of an upward zigzag.
The study of correlation is the key to the success of many traders. Let us take the events of the week. The Japanese government intervened in an attempt to control the strength of the yen earlier in the week and the immediate results are all to plain to see.