We were taught AND “instilled” that “trend is our friend” never trade against the trend. But “trend” only exists 20-30% in market. Why not learn and mastering the art of trading in sideway/ranging market 70-80% of time?
Gold start trending down to 1790 +/- for wave e (green) ( not shown on chart) with ( out of proportion ) expanding ABC ( Red circle).= as many Elliott wave Practitioners may question its validity.
Mr. Gold Market after getting “hard” and “shooting up”..He need to have “yo-yo” “soft landing “ first.. “accumulating” some “energy” on his new “base”..before.
Gold. With price breaking previous high of 2049+/-. Gold indeed completed wave A ( Red Circled) of expanding flat pattern in wave e ( green) of triangle as my previous ideas on 25/March/23.
Mr. Market always the master player of “Greed/ Fear” games meters. Where he “
always “tunes” our emotions to extreme level! In fact we have “symmetric/ contracting” triangle! But it’s “bullish type!” at wave b (light blue)(Cyan) of double three complex flat pattern. (w)(x)(y)(red).!
I’m reviewing what Mr. Market try “presenting” “his hints/setups” to us even he is in “holiday”..Tesla’s 130 +/- are confluence zone of 1) Anchored VWAP ( white moving Average line) 2) Demand Zone 3) Uptrend line ( cyan).
In trading we probably “trust” nobody even we need to “question” our “own” “bias/ analysis “ very often with “update / upgrade ” “skills” by following MR. Market’s “footprints” very closely...
Ralph Nelson Elliott “discovered” Elliott wave during 1930s and published it comprehensively on his article “Nature's Laws: The Secret of the Universe in 1946”.. He had “rule out” that there is only 1,2,3,4,5 subwaves in any impulsive wave ..”Unless” in leading/ending diagonal wave 1 or 5. But we should ask the big WHY?! Why, every elliottian always have these...
Checking from latest how “fast” the speed - z -factor . Mr. Gold market “drawing” its “triangle shape”..It seem like Mr. Gold market “maintains” its previous triangle ideas..
