ridethepig

Gold for Quadruple Witching

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Principal rule: Isolated corrections "a" and "c" legs should always be played. An opposing complex which we have not got into too much details here about, on the other hand, is the "b", often where our opposition is goaded into action, before being trapped and played out with momentum!


As we have seen is the case in Gold , a quick test of 1518 measured target contains a certain latent weakness, which shows up when we measure the extension from "a' and "b". We can call this dynamic weakness. When, on the forth corrective wave, the swing stands still (and can often look at rest) like with the past few weeks of chop, from which it will take a lot of compression and effort to force. I mean by this that since sellers have forced the breakdown, early buyers are forced into a decision and now left thinking it would have been easier if I had waited.


the correction complex is an instrument of attack!

It is hard to explain the why behind markets (as with most things in life) moving in waves (for those looking to dig deeper on timing cycles and etc recommend checking the work of Martin Armstrong), however experience has shown that from mapping correctly with impulses and corrections it makes it easier to hold out. Notice the positions we were loading together in 2019 and the strategic requirement for riding the impulsive leg. You should ride impulses where possible without any need for help, corrections are more of a challenge and require further monitoring as there is still the chance of our opponent occupying the whitespace. For now continue aiming for 1518 before the fifth and final impulsive leg (multi-year rally) begins in 2022.

If there is enough interest we can open up the Daily and four hourly chart tomorrow and start to zoom in to look for more positions with the expiries.

Thanks again!