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According with my main Indea of the big ABCDE into the Cycle's Wave 4 I think that we stay into the relative (B) of wich the green inner ABC may be a potential path. Also looking at the potential Bat Pattern that is forming. I will look at the marked levels for a reversal up to 1880 - 1910 area.
Its maybe ranging into a wave 4 (abcde: expanding triangle) of the bigger wave 5, heading below 89 after completition?
After months of closely observation of these big corrective moves on Gold, we can assume that we are almost in the ending of the complex structure. Looking at the whole structure in its internal movements, its looks like a giant ABCDE (3-3-3-3-3 corrective waves structure) in wich we are in the last one (the "E"). This chart will be use as monitoring the last...
Potential reversal area would be between 1940 and 1960 according with my counts and patterns. Levels to watch: 1944, 1959. Target: around 1720
1871 - 1879 might be the death line. Looking for ABC (5-3-5) completition at 0,618% extension of A-B; if this will fails next stop could be at 1901. Targets: 1800 and 1740/1725 area.
I think that we are in a corrective ABC structure inside a wave (C) in the daily chart. According with this count we may are inside a bigger wave 4 before another big dip for the wave 5, or the previous impulsive movement may already be over also. So if this count is correct we may have 3 different potential targets for the completition of this (C): 1) 1.374xx...
After the preview idea of the ABC correction (the Gartely pattern) up to 1965 that earned 1000+ pips in both ways (buying the B and selling the C), this idea would shows my bigger ABC Cycle count with shorts target to 1765. In the follow you can see 2 my short ideas on Gold that are still in play. I will update this idea with screeshots of the inner moves count if...
Correlating the moves and the count with GOLD chart, we might are close to the completiton of a big Gartely Pattern (and ABC correction in terms of EW counts). So the red rectangle would be the short are to try to hold for a potential huge move down.
Short setup based on Gartely Pattern completition.
Like my other idea on Gold, i think that we are in a giant correction move. What i would expect might be a move down before of a rise up. The completition of that BAT pattern would be a confirmation of my ABC.
So, we are again in a giant correction and probably we will rest into it untill post elections (middle November?). What i see as possibility now is a slowly drop to 1880 - 1855 area, then from there a rise up to al least 1955. So a strategy atm would be to hold the sells untill 1880 and close them from there to 1860 and then try a buy to 1955.
The wave 2 (ABC correction) would be completed at 1932. So "if" (ever big IF) the count is correct we are in the 1st wave of the big 3. This 3-1 would be complete at around 1865, then we could see the ABC up for the 2nd inside this 3. In this case we should have 2 short entries (and in case 1 long for the ABC up): --------------------------- 1st short: Entry...
Short around 26 to try to run a big wave down. This idea is an update of my preview on SILVER ( ) and correlated with others on GOLD and DXY (linked above).
Will we see a rally up to 95.50 after a test of 92.70 area?
We might be in a big corrective up move that could be the last part of a C wave (other 5waves up, after a 5, 3 series), inside a B wave (in the bigger count).
This is an update of my old ideas from August 2020 (links are below). According with this EW count, 1930-1938 (1945 might be the max extension) would be the potential 2nd wave completion area and consequently a big short for the 3rd big potential wave down. The target for this 3rd wave would be around at 1740
If we are correcting inside an expanding wedge, preparing for the 5th wave we might looking long for the inner C around 24.900 and then short all the way down deeply below 23.