Gold 3, Apr 2017: W1 diagonal done. Bigger bear correction
Hi guys. I won't be able to publish for awhile so hopefully this post you can see the roadmap I'm looking which will be beneficial for your future trades.
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Long-term perspective: I think the bull from 1046 to 1375 indicates that the bull cycle should last approx 2.5 years (2016 to mid 2018). So its always good buying lows until that time is up. If we refer to the monthly/weekly correction from the Y1970-1980 bull run, that subsequent correction was slow and sluggish. The law of alternation dictates that 1375 should break in this bigger correction with likely a sharp run-up.
Medium-term: Gold should be in C-wave up. My bias is that Wave 1 larger degree diagonal is done. The current assumption is that Gold is working a truncated 5th due to wave v target = 0.618 of wave i. The catch here is that H4 count shows the 1261 to 1240 correction as a 3-wave move. Weekly and monthly also closed green. So irregular flat possibility won't be shocking at all.
The trade setups are:
Short below 1261 with SL 1262. If 1262 breaks, then shorting 1270-1277 is a very good risk-reward because SL is at 1278/79. From my past ideas I've always preferred shorting the 1270 zone because it makes more sense (1195 > 1270 = $75) but I am actively looking for shorting opportunities for the upcoming a-b-c. I'll post the setup on lower timeframes.
Good luck to you all and wish you the best success in your trading endeavours. God speed.
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Long-term perspective: I think the bull from 1046 to 1375 indicates that the bull cycle should last approx 2.5 years (2016 to mid 2018). So its always good buying lows until that time is up. If we refer to the monthly/weekly correction from the Y1970-1980 bull run, that subsequent correction was slow and sluggish. The law of alternation dictates that 1375 should break in this bigger correction with likely a sharp run-up.
Medium-term: Gold should be in C-wave up. My bias is that Wave 1 larger degree diagonal is done. The current assumption is that Gold is working a truncated 5th due to wave v target = 0.618 of wave i. The catch here is that H4 count shows the 1261 to 1240 correction as a 3-wave move. Weekly and monthly also closed green. So irregular flat possibility won't be shocking at all.
The trade setups are:
Short below 1261 with SL 1262. If 1262 breaks, then shorting 1270-1277 is a very good risk-reward because SL is at 1278/79. From my past ideas I've always preferred shorting the 1270 zone because it makes more sense (1195 > 1270 = $75) but I am actively looking for shorting opportunities for the upcoming a-b-c. I'll post the setup on lower timeframes.
Good luck to you all and wish you the best success in your trading endeavours. God speed.
Comment:
SL 1262 Setup 1:
Comment:
SL 1262 Setup 2:
The clue here is to keep an eye on wave (2), not wave (4).
The clue here is to keep an eye on wave (2), not wave (4).
Trade active:
I'm short at 1255-57.
Comment:
Shorts closed. Now Im going long and looking to short 1272-75 zone.
Comment:
Comment:
Comment:
My bull campaign is done for now. Looking for shorts as per original published idea.
Comment:
Bulls have 1 day left (Monday) to make a new high. Right now I'm short 1271 but smaller lots, looking to build.
This is my last post until further notice. Good luck TV traders. It's been a blast.
This is my last post until further notice. Good luck TV traders. It's been a blast.
