Tag: Fibonacci

How a Fibonacci Cluster Showed an Important Resistance Level in Gold

Posted on by The INO.com Team

Senior Analyst Jeffrey Kennedy shares techniques that helped spot a trading opportunity.

By Elliott Wave International

If you use Elliott in your technical analysis, you may already use Fibonacci ratios to determine targets and retracement levels in your charts.

But have you heard of "Fibonacci Clusters?"

Elliott Wave Junctures editor Jeffrey Kennedy shares
his charts to illustrate this technique, which he recently
used to identify a critical turning point in Gold. The following
lesson is adapted from his March 26 video. Get more lessons
from Jeffrey in the free report, 6 Lessons to Help
You Spot Trading Opportunities in Any Market. Continue reading "How a Fibonacci Cluster Showed an Important Resistance Level in Gold" →

Today's Video Update: Gold and Oil Prices Swoon

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Friday, the 12th of April.

Gold
Gold (XAUUSDO) continues to come under pressure and is going to close out the week on a negative note. It would appear as though nobody wants to hold gold anymore. The gold market is close to a key area of support around the $1,500 area. A close below that area today does not auger too well for this market. Rumors that Cyprus is selling gold to improve its bank balances is also adding downside pressure on an already depressed market. We will be checking in on gold today and analyzing just how far this market can go from here. Continue reading "Today's Video Update: Gold and Oil Prices Swoon" →

Today's Video Update: Great Britain Lost Its Last Great Leader Today

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Monday, the 8th of April.

The Amazing Iron Lady
As a former citizen of England, I was saddened to read news that Margaret Thatcher, one of the great leaders of the world, died today. The "Iron Lady," as she was nicknamed, really did change the world and the economy of Great Britain. The world needs more leaders like the late Maggie Thatcher, instead of the poll-driven, politically-correct-don't-offend-anyone types whose only mission is to stay in office at all costs! Margaret Thatcher was one-of-a-kind and you don't see that coming along every day in this leaderless world. Continue reading "Today's Video Update: Great Britain Lost Its Last Great Leader Today" →

Today's Video Update: Goodbye Yellow Gold, Hello Black Gold

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 26th of March.

Goodbye Yellow Gold, Hello Black Gold
The gold market continues to frustrate the bulls and confound conventional wisdom. The market action yesterday and early today can only be seen as negative. With both our weekly and monthly Trade Triangles red, we see no reason to get excited about gold moving higher at the moment, so for now say goodbye to yellow gold.

On the other side of the ledger, say hello to black gold. Yesterday our weekly green Trade Triangle kicked in and gave a buy signal in the crude oil market. Yesterday's buy signal was in line with the longer-term monthly Trade Triangle, which has been bullish and in place for quite some time. We see the renewed bull market in crude oil continuing from here based on our Trade Triangle technology. With gasoline and crude oil prices moving higher, it does raise concerns about gas prices. If gas prices become so expensive, is that going to derail the economy? Continue reading "Today's Video Update: Goodbye Yellow Gold, Hello Black Gold" →

Today's Video Update: Cyprus puts lipstick on a pig

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 25th of March.

CYPRUS PUTS LIPSTICK ON A PIG
As the world waited with baited breath this past weekend, the powers that be put together an agreement so Cyprus would not fall out of the Euro and off the face of the earth. I say, it's like putting lipstick on a pig, it still doesn't change the fact that it's a pig. The banks have serious problems in Cyprus and potentially in other countries and "putting lipstick" on the situation may look pretty, but it does not alter the real core problems with the banks. Continue reading "Today's Video Update: Cyprus puts lipstick on a pig" →