Just in case, I have an alternative to my previous AUDUSD chart, in which the whole sequence that can be seen on the left could also be played on the right side (see diagonal yellow box). In that case the whole development / with a bullish tendency / could last about 3 years. This scenario will be negated if we saw break and close below 0.69912.
As long as 1.20586 is not broken down, we could expect orange wave 5 of pink wave 3. Even if the rise may be less steep, it should still end in December. If this view is confirmed, then in January we should see the pink 4 and finally the pink 5, which will then conclude the green cycle 1-5 at the same time. If this setup is good then one could expect short in the...
If this setup is good, then next Friday I would expect a short possibility. In this scenario the coming weekly candle should first form the weekly low and then a higher high. If this view is confirmed, then short next Friday would be a good resolution. In this case I see 2 paths: yellow or blue, but both should lead to the 1st TP at 3296.
In the Daily we see Gartley Formation, which is bearish and so I expect strong sales soon. If not today, then tomorrow wave 2 of the yellow C should end. Confirmation would be a break and close below 12182 on a daily basis.
So we reached 1780.82! On a daily basis we still need a TT. Buy at 1770.100. Maybe on Monday ... watch and if you want go long, ST under the green line at 1765.64! So that you have everything under control, pay attention to EMA 50 in the Weekly. It should be reached and serves as support. If gold breaks below 1765, then the next target would be, as indicated on my...