Kindly Zoom for the wave count. I am sharing this method that could potentially be a good mechanical strategy. There are three layers (major/sub-major/minor). I follow the pink trendline from the major layer to determine the market direction but wait for retracement to the fib bands on sub-major and minor layers. Its good to combine with RSI divergence and EW count. I believe 1800 will be good buy maybe around election time.
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Pink 'curve' not 'trendline'
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Bulls have to be careful of traps
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I have 2 guesses for bullish view. 1. COVID-19 second wave might turn Gold attractive again as a save haven which could later cause "Gold crash" by end of first quarter once vaccine news start rolling out. 2. Stimulus would come after election - crazy view though. If Rep looses, they might agree to the terms of Dem on stimulus (maybe they are just be waiting for a good time to play "You just lost a good and empathetic leader game").
NICE although if you can post clean for counting chart better
rasaqdayo
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@puzzledCardina95018, Sorry the counts are not clear on this HTF. It is better when you zoom vertically and horizontally at the right and bottom of the TV.
puzzledCardina
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@rasaqdayo, so base your Pic we are completing Big 4 before going to 5
rasaqdayo
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@puzzledCardina95018, I believe we already had the 4 completed slightly below 1800, and we are around wave 1 of 5 now at 187x. A retrace to 1816/11 should give us wave 2 of 5 and we could expect the bullish move to resume from there
rasaqdayo
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@puzzledCardina95018, Some of the pic are linked to the idea if you click on them and you can zoom in/out or scroll up/down for better view
Jose050215
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As long as we hit my tp at 1900.00 I’ll be a ok 👌🏻
caching
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this chart is so confuse..
rasaqdayo
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@caching, sorry about that. You might focus only on the wave count or zoom in to see support trendlines. Remember the trend is your friend.
rasaqdayo
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@rasaqdayo, Pardon my error. I meant Pink moving avgs. rather than pink trendlines in the post above.