Thursday 24 and Friday 25 are KEY DAYS for REVERSAL BREAK UP.
You can OPERATE previous UP and DOWN... and after take advantage with the BREAK of pattern.
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the ...
Well, Well... we can see that the new wave is in process of a long journey to aprox. 53.00 USD. In the bottom you can see the first microwave 1-2-3-4-5 , its correction ABC and the second microwave 1-2-3-4-5. It have a nice rythm. You can take advantage in this first moments and be LONG TRADE or CALL options.
I think that the formation 1-2-3-4-5 is finished and the Gold need a NEW SUPPORT for the next Elliot wave.
I give you two possibilities for this support point: 1282 and 1278.
If in the top rigtht now appear lateral formation, the correction will be 50% of the 1-2-3-4-5 wave.
But if in the top right now don´t ...
I think that a Triangle is in process right now. Check it.
We need be alert for the complete formation of this triangle and its future DROPING UP or DROPING DOWN.
I drawing A-B-C-D-E triangle, but it can become more complex triangle.