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.
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...
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):
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.
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):
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