About meI've been trading for 11 years and read about 60 books... I provide mentoring/teaching services where I teach how to develop trading systems, money management strategies, and trading plans. I also manage client funds.
Fundamentally Gold's outlook is very bullish (mainly due to the global money printing for 10+ years). So this idea is for a long on Gold. Buy the breakout of the upper triangle or buy a lower triangle retest that hold's the level.
Gold is currently consolidating at the bullish trendline. Entered longs with stops just under the lows with a 2.0 R/R target. If the trendline breaks then look to sell with targets at the last swing low.
Here's my Elliott Wave count for the USDJPY on W1. It appears more likely to be a corrective structure (labelled it black with the gray label as the alternate). Please note that I label my waves different than most. The way I label it typically allows for the market to perform an "irregular B" wave that triggers new highs.
I see three possible scenarios...
Based on the reverse divergence on the D1 chart it's more likely for BTCUSD to move higher. With that assumption the upside target would be a minimum of $429.80 with higher prices being likely. Once the WC completes expect a final leg down that targets $320. If it's still bearish I expect $260 to be tested.