cbud

Gold declining in a C wave to 1172

Short
cbud Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
3
My mid term count for Gold-0.19% is bearish as a C wave decline unfolds for an Expanded Flat completion. Lots of support and expansion projection ratios coming together in this market. Not an actionable trading situation from this longer term chart, but the proportional swings, groupings and character all come together mid/longish term for my analysis and thought I'd share. Obviously, next milestone is to see if a nice strong candle or gap forms over 1234. That will confirm the midpoint of the C wave situation.
Comment:
Update: Strong milestone formed over 1234 as anticipated. That could be the mid point. Some expansion could happen as well as the ratio implied by the wave ii high implies a proportional expansion, so don't assume perfect symmetry, although symmetrical projection does line up nicely with 1172.
Momentum signature is decreasing in degrees, so Gold should continue to fall against the Dollar in to this C wave down. Look out below.
Why does TView not allow me to post a picture in the Update Status section?
Comment:
15 min chart says 1234 could break on rally and 1246 will be resistance for the wave c of the Expanded Flat. There's a confluence target up at 1244 in the yellow circle
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