AlphaDreams

Week's plan in Gold using EW and Fib (long then short then long)

FX:XAUUSD   Gold/U.S. Dollar
4 months ago
I have two plans ( bull and bear ) but trying to work them both out separately but comparing them to other instruments I'm watching (US Indexes and Oil             ) make one less likely at the moment.

If Gold             is still bull long-term then this plan would be valid. We are finishing the last leg of the impulse wave (v) before it begins to correct. How low? No lower than the start somewhere around 1302 but here is where I'll be watching:


After this, again as long as everything here is valid, we'll see new highs making the 1400             and 1500 chasers very happy. I'm no perma-(bull/bear), I just trade what I see as it unfolds and try to keep a plan based on a bigger picture for the time it happens.



Good luck, let me know your thoughts.
4 months ago
Comment:
snapshot
4 months ago
Comment: Just wrapping up last wave 5. Here you see it broken down more into it's Minuette.
4 months ago
Comment: Changing some counting as we move through the day. Looking like we'll complete B corrective around 1331 before C down much lower but not below 1303. Then, it's up if we don't break lower.

snapshot
4 months ago
Comment: See new chart further broken down:

Gold Going Bull? Waiting on 5th Wave Completion (still).
For many centuries chemists labored to change lead into precious gold, and eventually found that precious uranium turned to lead without any human effort at all. -- Isaac Asimov
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