tntsunrise
Short

Gold form a wedge ABCDE WAVE

FX:XAUUSD   Gold / U.S. Dollar
7529 77 147
Gold             form a wedge
ABCDE WAVE
The mearued E point is
around 1248
Pay attention to 1237 level as well

1. Sell the E wave
2. Sell the Break of the Wedge
Comment:
snapshot

GET READY TO SHORT
Trade active: SHORT AT 1247
SL 1255
Comment: NICE REVERSAL
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Good Idea
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Nice one
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I'd say it would be a risky trade with so much expectation that it will go up.
+1 Reply
tntsunrise TOP CFDTradingo
if you have such expectation.you can long gold.
+1 Reply
tntsunrise TOP CFDTradingo
it's pointless to guess whether it will go down or go up. if it go up, take the risk of 2%, we exit. if it go down, we earn more than 4%.
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wonderful ....
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For sure, it's all good. I'm long from 1220 and so far so good
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could also be interpreted as a bullish flag
+1 Reply
flat normally will be a channel , not a wedge
+1 Reply
Timewise if we go up to E in 3-4 days we will break out or maximum come down to the lower leg of the triangle.
Price will not be able to break down from the triangle at the end of next week.

I think if we break down from the triangle it will break down immediately on Monday , or Tuesday the latest.
GOLD COT UPDATE - bearish
+1 Reply
tntsunrise TOP chartwatchers
agree
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what you are counting as (A) on this pattern is not (A) but the end of precedent impulsive wave. Sorry, this is wrong.
+2 Reply
(A) should be what you are calling (B), even though i'm not sure if this is really a triangle.
+3 Reply
But you can be right about the direction of the price without a right analisys
+2 Reply
Thank you friend. Appreciated if you can show your couting of wave. I am not a EW user, i am simply counting ABCDE in a wedge.
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f1l1per. PRO tntsunrise
oh, i'm sorry, then. Thought you were counting waves. But even from a non EW point of view, this looks more like a bull flag, which indicates uptrend will resume after this. but anyway sorry, i misunderstood your chart.
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jackdandy tntsunrise
Based on EWT counting this should be wave 4 (correction wave) and a potential C wave that is forming before wave 5.

Also, why focus only short when you can focus both directions in this scenario?
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I will long if the upsdie break.
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Looks rather like a triangle than a wedge.
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If a wedge 's extension is long enough. it will become a TRI-ANGLE. right?
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Csys tntsunrise
It depends on how you define a wedge. As far as I know, in the classical chart pattern literature, the wedge should point either up or down in a sharp manner, and cannot be a sideways pattern. But you know many places have their own definitions.
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Hey guys, wether this idea proves wrong or right, (this is a market after all) is not the issue here, the point is we should be thankful this gentleman shares is thoughts with us lesser experienced individuals. I for one learn something from every idea and so I am appreciative of everything he publishes.
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tntsunrise TOP deovolanteptyltd
:) welcome
Trade with care
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Thank you. I'm sure you have thick enough skin to be unaffected by these knobbish comments but they do irritate me.

Thanks again for sharing and please keep up the flow.
+1 Reply
Hi - your A starting point is not right.. it should be where B is now..
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Roy-C Roy-C
please ignore my comment I agree with f1l1per.
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I also agree. perhaps you can share me a screen shot what is the correct wave counting? many thanks
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Roy-C tntsunrise
Your wedge is correct .. just the starting of your ABCDE count is incorrect. You should move your A to the B and start the count there.. but you are right best to trade the break.. but always make sure you wait for the retest..
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I see. Thanks. You mean the A wave is the one Falls from 1263-1190?
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did u see long on 1248 ?
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tntsunrise TOP meshaltrainer
if price close above 1253, i will consider to long
+1 Reply
meshaltrainer tntsunrise
all good luck for you
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wht do u think of this?
GOLD the POWER OF WAVE ANALYSIS
+1 Reply
tntsunrise TOP JigneshRathod
HaHa. This is chart is from TOP 1 author right?
very possible senario. this can be the alternative trading plan, buy the break out, if gold close above 1253
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JonGray tntsunrise
I think we are looking at a breakout, as we see the bear markets continue.
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anilmangal TOP JigneshRathod
Hi Guys this is the second time since I am on trading view that i will make a comment on someone's chart. I hope this doesn't starts a war! The above chart was to warn traders to wait for the correction before they buy and not a prediction as what the correction will look like. Here is an up date as i see it .
snapshot
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anilmangal TOP anilmangal
As to comments that wave analysis does not work, well what can I say ? live in your ignorance!
+2 Reply
Thx for your update man.I was surprise to see you comment under someone else chart-that's for sure)I am currently short and gonna hold my position,cuz I also see gold dropping.GL and keep up the good work guys!
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tntsunrise TOP Don_Corleone
Keep your short position, follow your trading plan. Long or Sell , this doesnt' matter, can be both right. as long as we make money before we are stopped out.
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That's for sure
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tntsunrise TOP anilmangal
Relax, If people doesn't know how the Wave work, he won't appreciate your work. Your chart is amazing. I respect.
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Bandarsq PRO anilmangal
'this is the second time since I am on trading view that i will make a comment on someone's chart' .. that says a lot about your personality.
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Best price to enter and SL ?
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Don_Corleone PRO shahrose.ayankhan
Please ask Mr Anil this question:)He is gonna love it:)
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tntsunrise TOP shahrose.ayankhan
ALREADY UPDATED when i say trade active
+1 Reply
thanks. I m in the trade :) Cheers!
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tntsunrise TOP jangseohee
Higher Low, but Higher High only confirm when 1253 is violated
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jangseohee jangseohee
snapshot
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I think this Is a pennant Continuation pattern. LONG.
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I think we are forming a triangle wave (4th) after that we will go up for the 5th wave :
snapshot
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NICE E.W ANAYLSIS. AGREE if this is the 4th wave.
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what sl. you are using?
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tntsunrise TOP newbie2016
already updated
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I'm get ready :D
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Just gone short, thanks for the analysis! lets target that 1140 area!
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Hi, what your SL..?
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Miz osforex
Havn't set one as of yet, going to keep an eye on it

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Thanks for sharing!
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Thank you
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great analsis! lets ride it down to 1140 bro!
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lol. let's see
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waiting for 1237 area :-)
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Miz FawadJawed
its your area now ;)
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Yup already took 1 ride from 1239 to 1236 now will wait to break 1230
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Thanks for the chart :) learning a lot from you. What is TP1 and TP2 for your short position?? thanks
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Have enjoyed reading this analysis over the last day+. Will you maintain shorting over next week(s)? Cheers to you!
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yes I will untill i see some reversal price action
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Miz tntsunrise
a break below the current channel would indicate a nice bearish momentum :) for now, short still looks good and looks as thought it will continue dropping
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wow... I'm speechless-- you guys predicted this... what kind of magic is this??? how the heck??? I wish I can give you more than 1 thumb up. I must learn this technical skill. Question though: If I own AUY, NGD or any other stocks-- should I sell them if this continues to go the way you predicted it?
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Trade is going very well. who sees the 1180 area?
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any updates on this trade?
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update of what?
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tntsunrise TOP tntsunrise
NO SL, NO TP YET. Still hold short position
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nl88 PRO tntsunrise
still downside view ?
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I think what you labeled A should be a Wave 3. B=A, C=B and C is still in it's final down move...
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PeterNoppen PeterNoppen
That should be: E is in it's final wave down. After which Gold will take out the previous high.
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