Elliott Wave Update ~ 27 August 2019

Dog days of summer. Yes the market has been gyrating a bit but in the scheme of the bigger picture the trading ranges that have been established are well intact.

There isn't a great short or medium term count so I haven't posted one in a while. At these times its best to use trendlines, support, resistance, and channels to feel where we may be in the short term.

Red circle is still a  probable target. If not then some kind of triangle is forming that keeps prices above the June 2019 28.1K price pivot low.

Long term count still supposes major support is kept and the market eventually works toward another breakout to finish [5] long term.

Elliott Wave Update ~ 9 August 2019

Gold fulfilled the long predicted blue box retrace area.

The Fed is going to cut rates again because they follow the market.