My view on a weekly basis: --- GBPUSD is in the final red ABC correction, --- to date the red A has ended, --- at the moment the pink c (1-5) wave, of the blue B), is running, --- the pink wave 3 should hit the minimum target @ 1.37707 next week, but could also drop to the Kijun line @ 1.3706, --- Then the pink 4 & 5 waves follow, which ends the blue B). --- the...
In the daily timeframe: - the bearish, red cloud has ruled continuously for 6 months. - It's time to see a recovery this month, targeting 1.2286, i.e. the EMA 50. SL under 1.1990 - So that the Tenkan / Kijun Cross converts into a bullish signal, the price will come back again and reach the @ 1.2019... when the time comes, we will label it as wave 2 or b. - This...
Here is another scenario in which it can be seen that further, higher goals in the direction of $ 108.40 can be derived from this. The view can work if we don't see a break and close (Weekly) below $ 53 by the end of December or January '22 at the latest At the level of $ 53, the upper edge of the trend channel could be tested and serve as support so that the blue...
>>> Gold on a monthly basis <<< a little more text than usual >>> In this current situation there are 3 variants: 1. the blue variant, in which a SHS formation could develop, which would then have the computationally compulsory target @ 2,458,464 $ ... but also 2,719 $ would not be excluded. Here June should hit $ 1,957,856 and not close below $ 1,874,772. In...
Here you should wait twice for: 1. the end of next week ... if the zone between 75.71 & 76.25 is reached on Thursday or Friday, then short. Alternatively, at the beginning of the week after next. 2. If you have shorted on the top, hold the position for 3 weeks.
According to this concept, the 2 following weeks should develop further lows and finally July could offer a temporary rebound with the target of $ 1837. Unless August closes below $ 1707, there are rising gold prices with 2 options: blue with blue numbers or red with red letters.
Targets May: 29113.18 - 28999.63 Targets June: a) if blue path, then: - to the top target 42711 or 46446 - down target 19273.75 b) if red path, then: - to the top target 58336.16 - down target 19273.75 CONCLUSION: In both cases 19274 is a likely level. From there bullish again!
>>> At the moment I see a continuation of the ABC correction, which, if May closes below 33965, would form the potential red wave 1. Also, if this count is confirmed, the Dow Jones could move towards 35k again to form red wave 2 of a larger correction. The high of June should be carefully observed, because without a new ATH one could ride red wave 3 - without risk...