I hope this correspondence finds you in good health and high spirits, prepared to tackle the upcoming week with renewed energy. I extend my best wishes for your continued success in all your business endeavors. It is worth noting that success in trading is largely dependent on the consistent definition and adherence to one's own rules.
As a supporter of the Elliott Wave Principle, I consider this methodology an invaluable tool for market analysis. After three years of personal experience, I have developed my approach by combining this principle with meticulous consideration of different market scenarios. I strive to avoid market surprises by maintaining a range of market prospects, which enables me to recognize the market structure forming with 100% accuracy.
I am pleased to share my analysis with you, with the caveat that I do not provide buy or sell signals. My perspective on idea analysis is entirely impartial, and if my analysis meets your standards, it may serve as a guide to making an informed decision.
For your reference and comparison, I have attached my previous analysis of the same market. All the details of my analysis are clearly labeled for ease of comprehension. Nonetheless, familiarity with the Elliott Wave Principle theory would facilitate an understanding of the analytical idea.
My study of the Elliott Wave Principle took nearly three years, during which my understanding and experience with this invaluable tool have grown. My progress thus far is a testament to the legacy of Ralph Nelson Eliot, whose genius has provided the foundation for my achievements. May he rest in peace.
I express my gratitude for your continued support and kindness, and welcome your comments and critiques.
May my analysis be a valuable asset to your business journey, and I remain sincerely yours,
Mr. Nobody
Or we are in the third wave and there is one wave of the bullish market left and then the correction is based on the degree of the wave
Greetings! I am normally more of an ES! futures trader, and that is where I make my living. This recent plummet in gold has sparked my interest though, because it is a fast and sudden reversal of several weeks. Was there an event to spark this sell off, or do you see this as more of a correction or technical pullback? Just curious as I don't follow gold news specifically like I do things that affect the ES market, if there was something that really struck the market here. Seems like a very violent push lower for a technical correction. Thanks for your insight.
mehdi47abbasi79
⋅
@SemperTrader, Hello there! I am an analyst who creates ideas based on the Elliott wave principle. I have been studying and working in the financial markets for almost three years now. My focus is on the possibilities of what is happening in the gold market. I have two scenario ideas for the market: the first one is that we are in the fourth wave and another wave will continue in the rising market. The second scenario idea is that we will have five waves upwards, and we are currently waiting for three corrective waves. These waves will be in proportion to the wave degree and current progress, and then the rising market will continue. At the moment, I have not received confirmation about the continuation of the bear market compared to the current market structure. I am active in forex, indices, stocks, futures, and cryptocurrency markets, and I create analytical reports. Thank you for leaving a comment for me and exchanging information. Good luck in your endeavors!