Wave (iii) finally got a perfect length equal to 1.6 of wave (i) - a very good signal. The price moves sideways outside of wave (iii) channel. I am expecting flat correction to last till 107.80 level in a shape of 5 waves. Once wave C if complete I will be ready to sell it again.
Zig-zag of wave 4 seems complete (wave C equals to 1.2 of A). Target for wave 5 is 41.30 which is 0.61 extension of combined waves 1 and 3. Invalidation level is right under green wave 1.
Flat correction seems completed. Next target for wave 5 is 105.5
One more wave down is missing to complete 3rd wave with target 2740. Stop at 3007.
Blow-off top pattern, divergence on RSI and MACD all this screams "sell me big" :-) I am expecting it to fall 50% down very quickly. None needs it at the current price while consumption is going to shrink world-wide.
As per Gold/USD long-term analysis gold is in down-trend from the last week. As per long-term USD/JPY analysis , it is in downtrend too. What it tells me, that if you wish to sell Gold you should be selling it for JPY, since the pace will be twice faster, and deeper I am expecting fall to 100,000 at minimum before its first significant bounce up. But ......
As per long-term forecast, USD/JPY is in wave 1 of a downtrend and we should be looking for selling opportunity. On 4h scale (green marking) we are in wave 3, the first 3 sub waves (1h yellow marking) of which are complete. RSI and Stoch are oversold, wave 4 seems building up an irregular flat with target between 108.80 and 109.30, you should expect 5 wave...
Stock market is melting ( Nikkei long-term forecast is here ) what always leads to USD/JPY fall. On weekly we can see 3 waves up between Oct’12 and May’15, then 1 motive wave down and triangle with failed break-out of the top. All this looks like USD/JPY has completed wave 2 and started its long march :-) down.
As per attached long term forecast, Gold is in down trend from the last week top. Wave 3 on hourly chart is complete, length equals to 1.6 extension of wave 1. Wave 2 was flat, so as per alternation rule we should expect from wave 4 a sharp zig-zag. Wave A and B of the zig-zag seems complete, so I am expecting wave C of the zig-zag to be 1.2 extension of A,...
Gold has collapsed from the top last week even though the stock market was crashing significantly. This is an indication the uptrend targets have been reached. As per long explanation in my old post "Big picture gold is a bad long term investment" a new multi-month downtrend has started. Also this means that we should expect significant deflation pressure during...
A and B waves of flat correction started in 2018 are over. Now we should expect 5 waves down.
We are in wave C of expanded flat on weekly-monthly time-frame. See RSI, A and B zigzags are perfect. It is even cleaner on DAX
Corrective wave B (of ABC flat started in Dec 2017) has clear 3 sub-wave structure complete its formation this month. Wave C which should have 5 sub-wave structure is evolving now. We should expect at least 25-30% correction.
Wave B of cycle degree is complete. It subdivides on primary degree ABC zig-zag formation of which is finished this month. Next is a long way down.
1. DXY is in downward correction, and should make another 6%-8% down to the levels 90 by June 2020 (or 92 by September 2020, the faster the decline, the deeper the correction). The decline should form 5-waves. This is a technical requirement for 4th wave correction of the previous USD rise taken place between 2014-2017. The price is in divergence with RSI for a...
1. DXY is in downward correction, and should make another 6%-8% down to the levels 90 by June 2020 (or 92 by September 2020, the faster the decline, the deeper the correction). The decline should form 5-waves. This is a technical requirement for 4th wave correction of the previous USD rise taken place between 2014-2017. The price is in divergence with RSI for a...
1. DXY is in downward correction, and should make another 6%-8% down to the levels 90 by June 2020 (or 92 by September 2020, the faster the decline, the deeper the correction). The decline should form 5-waves. This is a technical requirement for 4th wave correction of the previous USD rise taken place between 2014-2017. The price is in divergence with RSI for a...
1. DXY is in downward correction, and should make another 6%-8% down to the levels 90 by June 2020 (or 92 by September 2020, the faster the decline, the deeper the correction). The decline should form 5-waves. This is a technical requirement for 4th wave correction of the previous USD rise taken place between 2014-2017. The price is in divergence with RSI for a...