Gold rally a few days away, taking a look at possible future dvt

FX:XAUUSD   Gold Spot / U.S. Dollar
571 0 17
Good morning,

I was recently asked a question how to see a difference between an X wave and a trend continuation. For instance, with the multi-month decline in Gold             almost complete, how do we know that the advance out of the lows that will start in a few days will still be part of a correction?

A possible answer to this - the full correction needs to demonstrate sufficient struggle between bears and bulls. Even if we have a three wave structure in a correction, but it is mostly selling or buying to the trendline , then it's most likely just a Y wave, which will be followed by a disruptive X wave, but which in its turn will be followed by a W wave. I think we are going to have this setup in Gold             . Please take a look at a structure formed in 1980-1984 to see an example of a complete correction. Note however, than even if the structure is complete from the "bull-bear struggle" perspective, it does not guarantee trend resumption which was due in 1984, but I suspect it is one of the prerequisites for it to happen.

Anyway, back to Gold             , present time: I think the advance in Gold             will start the week after XMas             , once we see the last low in EUR (the last high in DXY             ). Patience until then.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out