Gold: Monthly downtrend and wave count

FX:XAUUSD   Gold Spot / U.S. Dollar
I decided to expand on my gold             analysis with the help of rgmov and neowave concepts.
I think that the monthly downtrend is still valid, and that we will visit the projected target at 913.82 in time, which might validate the wave count on chart.
I entered a pending order and got filled for a short at 1129.15, and SL at 1140.56, and also entered a sell stop at 1116.32, and SL at 1156.66. My 3rd pending was a limit sell at 1134.85 but didn't get filled yet (same stop as the 1st at 1140.56).
The optimal entry was highlighted in my previous publication, a short at the top and SL at 1171.89, which I sadly missed!
I'll update this publication with the daily chart as we progress.
I've been discussing these ideas with @look4edge, @ncoulb1, @sokow and @jangseohee. Make sure to check out their works.
Feel free to comment to enrich this discussion, and good luck if going short!
Comment: I'm tempted to invalidate the count here, but not sure yet. Conflicting information between timeframes.
Comment: On track.
Comment removed
What's your agenda Dear Creep?
Go through my pastebin link in my profile..I can see the brilliance of your technical analysis in your publications by the way.
I'm humbled.
Two inside months so far, no bearish continuation in this timeframe yet.
This timeframe would appear neutral right now.
dingying85 IvanLabrie
Gold indeed rise to your target 1150, could I short gold miners?
IvanLabrie dingying85
I'm short gold, gold miners, I'd have to check the chart.

Placed pending sell stop, weekly and daily aren't 100% bearish yet, once we cross this level price might accelerate further and we can look to trail stops as we march towards the time at mode target at 913.

Entry: 1116.14
SL: 1156.51
TP: 913
Risk: 1%
Here's Glenn Neely's count on which I molded mine, and added the extra analysis elements from time at mode: https://www.neowave.com/audiointerviews/20130801/6monthlyGOLD.pdf
You can read more about it at his website, if you browse the interviews. Some really great material there.
forker IvanLabrie
TNX, will have look.
+1 Reply
+1 Reply
forker NickCoulby
Nick - beware of thoes words §8-))
+1 Reply
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