Date: 31/01 Its finally happened .. just when everyone thought the sky was the limit. Gold has fallen around 16% in a matter of days. Luckily we had already secured close to a 1:8 return on our positions, had booked profits and were trailing longs as we went along. It's been an awesome month so far. Now getting down to the important part - What next? The beauty of Elliot waves are that they show you all possibilities for the markets with confirmation points. All we need to do is be patient and wait till our confirmation points are triggered to know what scenario we are looking to play out. So before we jump in, one thing remains constant - Gold is still bullish overall. We just need to figure out if its finished its current up move on a large degree or a smaller one. I'll explain with the scenarios below. Scenario 1 - Scenario 1 on the daily chart shows us an impulse has completed. Now to further understand if scenario 1 holds true, this corrective needs to respect the 2-4 trend line drawn in red on the chart. If prices manage to sustain above and keep that trend line intact - we are heading back up to an all time high with the current impulse that completed being marked as W1 of 5. Judging by the speed with which this corrective has kicked in after a prolonged bullish period I'm unsure if this scenario will play out. I feel this is an ideal point for bigger players to book profits and for a slight cool off in Gold to take place as it prepares for its next surge. However, until the trend line holds - Scenario 1 is very much accurate and valid. Scenario 2 - Entry into this scenario kicks in the moment the 2-4 trend line breaks (as shown in the next daily chart). This break would indicate an end of a larger impulse and a deeper correction which is highlighted in the Weekly chart below. If this happens we are looking at a buy zone for Gold at around 4153 - 3700. I know it's a rather large zone but this would be a corrective on a much larger scale so the zone to buy will also be large. This however would be an ideal entry point to catch the next impulse once we see some positive price action in this area. Please do wait for a positive reversal from this area as Gold does have room below this to move downwards while still keeping this count completely valid.

Date: 26/01 For those of you who have managed to ride the Gold wave with us our trade is already giving you a 6:1 return! I'm hoping all of you have booked substantial profits and are now closely trailing your longs as we enter a slight resistance zone for Gold. Our overall outlook and bullish view of course remains intact but this is a time to be cautious. Gold could pause / retrace from 5150 - 5200 levels. Any negative price action from close to these levels (we are already at 5110) should be considered as a warning sign and a possibility of a reversal. I recommend everyone to ensure that they've comfortably safe guarded their profits and are closely raising their trailing SL. Once a reversal does take place we will wait for the corrective to play out before we re-enter a new bullish Gold trade. Sharing images / path of gold below on 4H and daily chart Feel free to share your thoughts below

Date: 19/01 As discussed in our previous 2 posts Gold and Silver both have maintained their bullish bias. On the 14th we discussed that our buy zone for silver was between 85 - 87 levels (with a SL of 74.549) and today silver made a high of 94+. Thats a 9% jump from our buy zone! Similarly on the 16th our update on gold discussed that gold too was ready to continue its upward trajectory and all longs can be built with a stop loss of 4500. Gold made a low of 4536 and has now made a high of 4690 (our target was 4700 which it will still get to). Thats a 3.5% jump towards our level and already a a 4:1 return if you managed to buy the dip as discussed. All these levels could've just been entered into your trading terminal on the day we discussed and all would be running with substantial profits by this time. This is what makes Elliot wave positional trading my favourite way to trade. No need to spend hours on the screen stressing and waiting. Just put the numbers in, sit back and relax.

Date: 16/01 Just sharing a quick path update on gold. The impulses have gone into extensions and we are currently in the 4th wave of the 3rd impulse. I'm expecting the bullish momentum to continue once this sideways accumulation period ends. The 3rd impulse should take gold to 4700+ levels. The next serious correction will appear once the 3rd impulse ends. We'll keep an eye out around those higher levels and look for bearish confirmations before determining that the next corrective is on. Until then hold on to all long positions and buy any dips with a strict stop loss of 4500. Anyone have a different count or another outlook? Feel free to drop a line below!

Date: 14/01 I don't usually put out the silver chart analysis but its movement is too good to ignore. These days every time I look at the silver price it seems to be 10% higher than when I last checked in. The structure is a complete buy the dip with a current buy zone emerging around 85 - 87 levels. For now 74.549 can be used as a tight stop loss for any long positions created in this buy zone. We are currently in the 3rd wave of this impulse that has itself gone into extensions. Best not to try catch the top and use any dips to buy and/or build a long position. Posting the 4H chart below.