SILVER Elliott Wave Technical Analysis

By: Lara Iriarte | Wed, Oct 9, 2013
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Originally posted October 8, 2013.

Last analysis was invalidated with movement above 22.139. The wave count has necessarily changed.

XAG/USD Daily Chart
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A downwards zigzag is unfolding at primary wave degree. Within the zigzag intermediate wave (A) is complete. Intermediate wave (B) is an incomplete zigzag.

Minor wave B is an incomplete double zigzag. Within the second zigzag minuette wave (c) is incomplete.

Minor wave B may not move beyond the start of minor wave A. This wave count is invalidated with movement below 18.215.

XAG/USD 1-Hour Chart
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Upwards movement was minuette wave (b) extending higher. At this stage it is not confirmed as complete. I want to see a clear channel breach and movement below 22.114 before I have confidence in a trend change. At that stage I will calculate a downwards target for minuette wave (c).

Minuette wave (b) may not move beyond the start of minuette wave (a) within this zigzag. This wave count is invalidated with movement above 23.417.



Lara Iriarte

Author: Lara Iriarte

Lara Iriarte

Lara Iriarte

Elliott wave is one of the more difficult and complicated technical analysis tools. When done right it can be uncannily accurate.

I have been using the Elliott wave principle to analyse up to five markets a day since 2008. I began Elliott Wave Forex (originally in 2009 to provide daily analysis of EURUSD and GBPUSD, then I began Elliott Wave Stock Market in 2010. Elliott Wave Gold began in August, 2013. Currently I provide daily analysis of Gold on this site, and daily analysis of the S&P 500 on Elliott Wave Stock Market for its members.

I have a science background (BSc) which has trained me to think logically and be evidence focussed. Over the years I have seen no market movement which does not fit into the clear and restrictive rules for Elliott wave structures.

I have members who are fund managers, institutional investors and professional traders.

If you want to learn how to apply the Elliott wave principle to any market my analysis service is designed to teach you, daily, how to do this.

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