Dalin_anderson
Long

Gold 4 wave? Lets see if we make a triangle

FX:XAUUSD   Gold Spot / U.S. Dollar
Loving the Elliott Wave theory painted on GOLD here and I see a few longterm options.

ABCDE happens often on a 4 wave between the .382 and .50 fib level.

4 wave can also be an ABC all the way down to .618.

Looking at longterm buys around all these fib levels depending on what outcome happens.

I think gold will do good after my parabolic run-up in stocks
once we start the correction in stocks gold will moon.

https://www.tradingview.com/chart/CL1!/R...

Stay healthy and stay profitable <3
Comment:
Comment: This is my bearish option and I think is less likely.

Comments

"ABCDE happens often on a 4 wave between the .382 and .50 fib level."

Yes it can, but not after a strong move up. The most likely count to fit this pattern is that the point you have labelled (b) is just a mid point in wave 5.

You don't have enough data to provide meaningful analysis.

Diagonals in a bull market have a positive slope.
Reply
Lol!
Reply
Mate, is that a joke? you have a long caption and you expect teh gold to fall over the next 2 years and consoldate at lower than today prices for 20 years
Reply
Dalin_anderson WiseTraderIO
@WiseTraderIO, Big picture our last bear cycle was 20 years.

ABCDE waves are common on 4 wave Impulse.

This also aligns with stocks topping out after another 8-year bullish cycle.
Reply
WiseTraderIO Dalin_anderson
@Dalin_anderson, What I am saying is that you have selected the "Long" classification when you believe that the market will be in a bear market for 20 more years, this is a short prediction..
+2 Reply
Dalin_anderson WiseTraderIO
@WiseTraderIO, I am a long-term investor and I am going long on all these fib levels.

I don't short markets that can also breakout if conditions change.
Reply
Dalin_anderson WiseTraderIO
@WiseTraderIO, I don't expect people to blindly follow me unless they are "dumb money" anyways.

this is my conjecture on the market.

If they go long here they missed my analysis entirely.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out