We are at a critical level ! If price makes a clean move to the downside, we might be in wave 3 of 3, where we will see price just fall hard and news talk about a crash (I am not sure we are there yet, but it's possible). If it keeps on going higher tho, I will consider this whole move down as an ABC correction and we should see some higher prices (for now) maybe...
We got a leading diagonal as wave (1), (price goes higher but starts to overlap itself, rules for the diagonal are the same as for the impulse except wave 4 can go inside wave 1 territory) We now should see a correction lower, wich should be approximately around 50% of the previous move. It should be a zigzag (ABC) but might also be a more complex one. In any...
We should see price go down to 3500 before going up again. The invalidation level is at the last low, 3120. If it breaks, we'll see even lower prices. For now, wait for correction to end near the 61.8% retracement and then start buying up to 4500 as first target.
Wait for price to reach the 50% - 61.8% and buy towards 1.34 or even higher. Target 1: 1.34 Stop : last low
The fact price came below last low means we might be in a Flat correction. In this case, price usually turns around the 138.2 Retracement level, where we see support from previous price action. If price moves below the 161.8% Retracement, we will have to adjust our view. Short term, look to buy around the support zone. Targets : 1.5260 to 1.5360 Stop :...
We are in wave ((B)) wich is playing out as a complex (WXY) correction. The low might be in place, in wich case we can go long now or wait for a pullback first. A five wave rally and a break above 6790 confirms the bullish move. This wave ((C)) should be equal to wave ((A)) or 1.618 of it. Targets are then 71 to 74
We should see price go lower one more time for a wave 5 First Target wll be 2350 followed by 2260. Entry can be made on this orange TL break or even right now if you can afford it. Stop at 2621 or above this wave 4. Price can go a bit higher and touch the black dot TL but should turn right after.
The 5 wave move up for wave 1 or A is an indication of bullish reversal in the trend, this might be just temporary but if not, we will see a big rally. We have to now if we are in an ABC correction or Impulsive move up. For now look at 4600 as first target then 5300 for a potential wave 3 or C. After that we will have a look at the charts again. This wave count...
The alternate count is my main one and it suggests gold will go up some more before any deep pullback. We should therefore see price turn near the 0.382Fib retracement and go higher from there. ! Price can not go below wave (1) high or it negates the count, in wich case we will have count again.
We should see price go a bit deeper towards 100 - 134 before going up again to at least 230. Therefore, wait for this pullback before buying.
Price went a bit deeper than expected, but as long as it holds above wave 1 high, the count remains valid and we should see some more upside movement for now. If invalidation breaks, we should then see a deeper pullback.
We are currently in wave ((iv)) of wave (C) of ((E)) of a big triangle (look at my previous posts for chart), wich might also be the alternate wave ((C)). Don't hesitate to like, share my ideas and Subscribe to my FREE Telegram Channel for more updates t.me
We are in wave v of a diagonal of higher degree wave (c), itself of ((b)) of an abc expanded flat. Price should hold above 1.2268 for this count to be valid. Look for support around 1.24 as a potential buy zone. Red wave ((c)) should unfold as an impulsive wave higher with equal proportion as wave ((a)) or Fib relation to it. subscribe to my FREE Telegram...
We might have completed a complex ((wxy)) correction of higher degree wave b of (b). When price falls hard as it just did from 1.149, it indicates the upside move might have ended. In that case, we are now in wave c lower, wich, ideally should unfold in impulsive fashion (5 waves to the downside). I believe we finished wave 1 down, and are now in wave 2 wich...
Go long now, with Stop below wave 1 low. !! Start with half of your standard lot size and scale in if price goes our way. We have here a tight stop with a big potential win to at least 0.72
We got 5 waves up, now we are in a correction, wave A and B seem to be in place, so we expect a wave C lower down to the 61.8% Retracement. Got in with my Telegram followers at around 0.9670. So, follow if you'd like to get notified beforehand.
Looking at 6800 as first target before any good pullback happens. For now, we might be in wave (3) of bigger 1 or A.
Gold is unfolding as a WXY correction, each of the subwaves are 3 waves correction (ABC) (or more complexe ones). Wave W & X are already in and we are currently in wave Y; Wave Y is itself playing out as an ABC, we got 5 waves up this means we will see a correction lower now. Once the correction ends, you can buy once again.