GOLD could reach at around 1780 where there are 1) Quasimodo level. 2) Reaction Line (Dashed Red) Resistance to complete either running flat or expanding flat pattern (a)(b)(c)(Red)..Price should be "capped" below 1789.42 "Theoretically" as wave v (Cyan/Light blue) can't be longer than wave iii (Cyan/Light Blue)...
TOPGLOV price could break all time high at RM9.765 as there is a based on "just 3 of the possibilities" :
1) Price of KLCI could break all time toward around 2000. TOPGLOV As a main "contributor" of KLCI index could break all time high as well.
I have answered my own 4 questions "why" Gold may surge up to around 2100 first before moving down toward around 1570 :-
1) The Yellow Highlight Area still Look "impulsive" within "Ranging Market" as shown on a flat / no slope / none trendy daily 233 EMA.. So it's possible we're in wave B ( Red Circled) of a expanding flat pattern ABC (Red Circled)
H1 time frame.
When a divergence signal appears, the price starts to move down.
The key level is at 48000. Wait for the price to down to this support and see how the price will do at the Key level.
With the possibility that the price could form a Running Flat or Expanding Flat here, and there are buy setups and the price will continue to rise...
Liking USDJPY's current price action for the potential sell.
We can see after an impulse breakdown from the ascending channel, price begin to consolidate.
There are a few swing highs and lows, and price isnt getting moving away from its current structure.
However the latest price development, as price formed a clear recent double tops, and a...
RESINTC ( Sorry. I dun even know what The Hxxx ) this stock is ..Currently trading as top of the most active (Volume) list in BURSA trading .. Probably at the end of "Bull Trap" trend as price seem forming at the end of an expanding flat pattern ABC (Red Circle )
AMAZON stock price may be forming a expanding flat pattern ABC (Cyan/light blue) wave .. where price could reach at around 2688 an about 19.22% drop from current level of 3327.59 .. 2688 is the 1) Next Demand Zone 2) Long Term up trend line support area.
HIAP TECK ( Steel Products Manufacturer ) probably at the last leg up to complete expanding flat pattern ABC (Red Circled) . BUT price might still having about 80% upside potential..where price could reach at around RM0.930
Gold price probably is developing an expanding flat pattern in wave iv (green circled) . Now price probably is heaving down toward the 2nd leg of the expanding flat pattern which is wave (b) (red).. where price could reach at around 1740.OR..OR even possible we already reached wave (b)
SP500 scenario 2. Wave 4 (red circled ) possible an expanding flat pattern. Wave A (cyan circled ) of Wave 5 (red circled ) possible reached... Maybe a deep pull back toward around 3300, where will be the zone for weekly 200 ema/ demand zone / and Fibonacci 50% pullback from March 2020 low..
P/s Inside any Impulsive 1,3,5 waves there is ONLY abc 3 sub waves...
Gold , short for wave A (yellow) of the expanding flat. Stop Lost at today ( 3 June 2021 ) high 1910... Target Profit around 1950-1940 ( where there are the "zone" for demand /4 hours 200ema/ daily uptrend line and pullback area for monthly down trend breakout) untill next Monday after this coming Friday NFP..
GOLD possible is forming an expanding flat pattern on wave (B)(Cyan/light blue).. Maybe now we are at wave A (yellow) first leg down of the expanding flat pattern, where price could reach @ around 1845 ( which is support/resistance flip zone and the long term down trend lines breakout zone becoming support area ) .before resuming its uptrend @ around 1950 (major...