The pair is in a corrective 4th wave which has met all requirements and might very well be over. Allowing for marginal high however the upside looks limited. Lower prices expected to a new low to complete wave 5
The retracement in the pair looks mature and the ending diagonal has met it's minimum requirements plus a throw over in the making. If this count is correct , the low of Dec 2016 should hold.Should this lows get taken out, the bullish idea is off the table. Keep an eye on the resolution of this pattern
The move from 1400 low ( termination of wave (e) , see linked idea) to the 1453 high has unfolded in three waves before the sell off to 1413. This seems to suggest the wave (iv) is still unfolding into a possible expanded flat. Neutral unless gold takes off the high at 1453
BTCUSD has traced out a flat retracement. Hence the label change from WXY to ABC. The only question is if this is all the retracement or part of. The market will answer this question in due time. In the mean time I'm bullish against the 9071 low.
Gold is in what looks like a triangle in wave 4. With the (e) still in progress. If this count is correct, then we have a new high in the making ((Triangle ain't confirmed until the b - d trend line is broken)
Pair correcting the drop we just had to 0.9693. It has so far traced a clear 5 waves up which i have labeled as (a). Wave (b) might have completed at 0.98449 or it might make another low before heading up to complete (C) wave. In other words a zigzag in the making
We have a clear zigzag making up the (w) leg. Price action from the low in Sep 2017 to current is clearly corrective. This suggest more downside. A break and retest of the 2nd trend line drawn from Sept' 2017 low would add weight to my view. Keep an eye on this one