XAUUSD, we've seen not just gold surging up after middle east.. But USD as well. That probably indicated that US's note still "smell good" & continue as a "King Maker" for time being". Let see how The Boss/Fed gonna "trigger its rifle" @ today 2pm.
Gold as posted ideas on early May 2023 where we have high probability breaking < 1800, BUT which "road/path" to success"? It really depend on which paths/waves we "choose" based on our patience/trading skills/ etc. P/s The more we trade toward <1800 the more we might lost/loss in trading's "path/waves" or vice versa.
SP500 indeed completed wave A ( Red Circled ), now "pulling back" toward 4445 +/- a confluence zone of :- 1) Fibo 61.8% 2) Down Trendline (red) and etc.. Possible another -17.32%.
DXY Instead of expanding flat pattern USD probably forming a complex double three pattern (w)(x)(y)(yelow) on wave (2)( Blue).
XAUUSD Probably building a ranging "base" in wave (4) (blue) . E.g : tringle, double/triple zigzag etc.. where price capped below 1870 +/- Before another significant "drop" toward 1760-1750.
Gold. Base on Elliott wave principle/ theory/rules.. You may disagree/ argue with me that subway of any corrective wave in triangle consist of expanding flat but i have seem it and prove it with my z-factor (speed analysis) as It happens very often in lower time frame chart.
UK Brent Crude Oil finally reached 96.80 +/- as posted idea on 23/Feb/23. What Next to the "mother of all inflation"?
DXY / USDollar A weekly pin bar @ major resistance is not a good sign for the bull of dollar and the bear of the gold.
XAUUSD. There was a "hidden" triangle here @ wave (4)(blue)..So current downward trend probably the last leg of wave A (Red Circled) which is a leading diagonal pattern.
After reviewing Mr. Gold biggest structure over weekend. .I “found” that There are more than 2 signs that gold already start diving into 1790 +/-. Short Gold @ 2050 +/-. S.L @ 2060. ( Detail on my next lower time frame chart).
Gold wave ii (flat pattern)( Green Circled ) probably reached earlier than expected As we have "wedge pattern" waiting for breakout in DXY/USD/Dollar index.
Paypal probably found its multi year support /base near 46.30 +/-.
Gold probably found its support near inverted order block now building its base on wave 2 (yellow circled) ( p/s : base always in consolidation) before a big "up" rally
BTCUSD is trending now toward wave (B) ( Blue) . Parts of (A)(B)(C)(blue) subwave of wave B (Red circled) of the ABCDE (Red) "Big Triangle"..
The Fed just "giving" "ambiguous" "fundamental news" as usual. A "hints" for use to "interpret" with our own bias/perception.. Treat "news announcement" as "timing/cycle" for market not as "fundamentals for trading" maybe be a "good ideas"...
Dollarindex Back to previous idea on 19/July/23 that wave A (yellow) is an expanding flat pattern abc (green circled) where price will slightly above 105.883.
SP500 wave (2) (blue) is probably a running flat pattern ABC (yellow). Where pull back price probably stalled @ 4498 +/- .. A confluence zone of 1) Trend line ( red) 2) Order Block (Red rectangle )
DXY aka dollar index price instead of forming expanding flat pattern, probably is forming a running flat pattern where price will be kept below 105.883 for time being.