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Captain Ewave

Captain Ewave Articles

Gold rallied to 1074.30 in the overnight session, before giving almost all of it back. We still would like to see gold hit our 50% retracement level of 1063.80 to complete all of wave ^ii^. We still expect a little more weakness before we...
Gold was flat in the overnight session, but the wave patterns on the Intraday Chart suggest still higher prices in this up leg. Our next targets are 1085.00 and 1088.20. We are working on the assumption that all of wave .a. of –v- ended...
Late in yesterday’s day session, gold reached a low of 1058.20, and in the overnight session, that low held. We are now looking for the first signs of an impulsive sequence. That will confirm that all of wave *b* of .b. is complete at the...
Gold reached a new low of 1065.80 in the overnight session, which is now a 50% retracement of the rally from 1045.40 to 1088.20. We did mention in yesterday’s Posts, that we thought we still had an incomplete impulsive sequence from the...
Gold reached a high of 1074.00 in the overnight session. We are starting to lean to the idea that wave .a. ended at 1151.60 and that we have now started our wave .b. rally. If gold were to now rally to the 1181.00 area, which is roughly...
A week or so ago we changed our longer-term count in gold to what is shown on the attached Long Term Gold Chart. Our original count had a double (a), (b), (c) corrective drop that started at the wave 3 high of 1923.70.
We had mentioned in both of yesterday’s Posts, that we did not see an impulsive wave structure on the Intraday Chart in the rally from the 1073.00 low to 1097ish high. That suggested to us, unfortunately, that the 1073.0 low is going to be...
Gold remained range bound in the overnight session, as we traded within the high and low that was made in yesterday’s day and overnight session. We need gold to start moving higher if wave -ii- actually ended last Friday at the 1184.50...
At the time that this was being written, Gold reached a new low of 1128.70 in the overnight session. Gold is very oversold and is now likely heading to our 78.6% retracement level of wave ^i^ which is 1122.70.
Gold was extremely quiet in the overnight session, and we did reach a high of 1167.10. Gold has still not given us the confirmation we need to say that wave ^iv^ or some other more bullish corrective wave has definitively ended at the 1158...

In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.

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