FX:XAUUSD   Gold Spot / U.S. Dollar
178 16 5
For the grandkids.
Getting very close. Note positive divergence holding on MACD. Need to see a strong impulsive reversal to signal this correction has completed.
this is a masterpiece...... if only it would get it's butt in gear ;o) tx
Lol, I like your red count!
@Dll, Still a monster trade coming assuming this year's rally was (A) of cir-A. This correction would be the (B) wave, typically nasty to trade. But the next move *should* be an impulsive (C) of cir-B to approximately the 100% extension of (A)-(B) .
nick.holland78 nick.holland78
@nick.holland78, I meant (A) of cir-B...
Dll nick.holland78
@nick.holland78, Yes, according to your (C) = (A) assumption. But it could end up with 61.8% of (A) which is about 1,415. Personally, I think this is more likely since it aligns better with technical analysis. Also, GDX is seemingly forming (W)-(X)-(Y) - more like a bear market rally (from this year). Loaded some GDX two days ago but plan to gradually sell and empty all once it reaches 31.
@Dll, hi.. Could u post that GDX chart? Thanks :)
Dll webmiztriz
@webmiztriz, Not sure if you can see it.
Dll webmiztriz
@webmiztriz, I'm not sure whether the blue A-B-C should be W-X-Y. For me, (A) really looks like 3 waves.
@Dll, thanx.. Ive been struggling with that count for months... Does look like A...3waves....
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