in the previous chart it doesnt touch E and Start a third wave but in the way to touch the high(maybe an ATH for gold) theres a strong resistance
although it can continue to touch high, i think its not right time for long setups and opportunity for sell for professional traders
I did not like my previous count so I decide to count waves again
u know there are many probabilities
We are in a sensitive position if primary X can penetrate 5 primary and make a new high
this count is failed
There is no doubt you should belive in your analysis but it doesn't mean to have no Plan B
in Ew method u can count waves in different views depends to big market indices,volumes,market sentiments,multiple timeframes and ...
in this chart i show you two models of counting
1.I counted 4th wave as a contracting triangle and its telling us to go short
2.the 4th wave...
As i noted in my earlier analyse Its a Bullish way for the gold till reaching (E)
any bullish movement is temporary and chance to go Short
this h&s pattern for gold got trend these days and its reliable
I like to put my buy trigger under 1277
please don't forget the stop loss it may touch the top of contracting triangle