KVE
Short

XAU/USD: Gold correction continues!

FX:XAUUSD   Gold/U.S. Dollar
526 10 22
Short from last high (and completed bat see linked idea), which was possibly the end of an X wave.
New impulse wave count up was negated by PA retracing beyond wave 1 high, so still corrective...

Tradeplan: trade the Y wave (or at least try to...)

1) LONG: A wave could be close to completion with approaching trendlines ..., so I will go long at trendline re-test
2) SHORT: Try to short B wave end at popular retracement (61.8%) for a 'killer' C wave...
3) LONG: At end of C wave, looking for fib and trendline confluence, either back to broken trendline or to popular retracement level

Watch out for possible bullish butterfly lower down... (not perfect 0.786 B though, but close at 0.766...).
Gold
Hexagon View h4
Reply
KVE ahmedfx
I don't know how these patterns works but as for the 1235 and 1216 I can agree! On a short the timeframe it can be part of the current A wave! But watch out if the up move takes more time cuz the trendline is sloping up in which case 1216 can be a bit low... If it retraces higher than 1235 (1245-1250) then it might be the B wave itself...
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this is Gann Analys
Reply
KVE ahmedfx
Gann is wellknown name but I have't yet looked into any of the theories. Is it worth studying?
If you have any tips for reading material on it please share, always keen on learning.
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I have a doc of astro and sorry i can't give it hope u understand only i give course :)
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Very clean and bright..!
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KVE VRShaiju
Thanks!
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good idea !!!!
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KVE SanZhang
Thanks, let's see what happens!
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