FX:XAUUSD   Gold / U.S. Dollar
438 14 6
I think it could be a good time to scalp bearish moves on the lower time intervals, as price shown strong hesitation at 1268 resistance area .

I will also look for a confirmation of a downside reversal for a more prolonged bearish move.

For now, it does look a bit concerning for gold             bulls, unless we decisively take 1268-1270 resistance
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Let's look for wave 4 pennant first before getting bearish without conformation... 5th wave up could be the decisive move that breaks 1268/70 resistance. But still open for gold making a flat to revisit 1180/70 again.
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Your already on a wave count up?

I have final 5th wave down (truncated thou) before a-b-c of Major B
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.. and that 1-5 wave count down (A) is from April of 2011.
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WallStScalper PRO QuantitativeExhaustion
To be honest it's difficult to make a very nice an easy count from 1180 low from new years eve, but gold is one among the heaviest manipulated so see 1180 as the wave 2 down and ever since a wave 3 up. And now caught between moving averages making the pennant. (4th wave)
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You're right about gold. Gold might be on 5 count up or a-b-c B. Sorry I was referring to silver, which is either way ahead or far behind. The two are not in sync at all.
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WallStScalper PRO QuantitativeExhaustion
No worries buddy! I agree completely in what you are saying here! :)
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Food for thought.. Historically Silver often leads when the two are out of sync. So does that mean gold is lagging and needs to break previous 1180 low?
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WallStScalper PRO QuantitativeExhaustion
I still have a flat as the alt. count as the empty bouillon vaults/US last attempt to short gold lower. There is no gold left in the west ...China and the Saudis owns it all.
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I keep on hearing this rumor. How did you confirm no gold in US vaults?
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WallStScalper PRO QuantitativeExhaustion
If a break lower then possible 1170....but still a flat
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WallStScalper PRO WallStScalper
Many reasons: Do not have the links on my laptop to sent you. (On vacation on Canary Islands) But US resist continually a inspection, Germany have only received 7 ton gold - should have had - i think - 70 ton by now. Due to JP.Morgan London whale they went insolvent and had to sell their HQ with direct access to New York Fed. Hmm. And the gold Germany received from US wasn't their own (own stamp). Many more reasons...
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I'll do some research.
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snapshot


Inverted Head and Shoulder?
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