diamond continuation pattern after fake outs we now closed above..
second scenario 3rd now extends creating d top and we can finish 5th at 2239 at least
Numerous scenarios but I see 2 as highest probability 1 and 3 equal near length with 5th extended as gold often likes! target into 23-2400 bracket
Not often I change but although both scenarios are valid I believe we may be developing a 1 3 in similar length and a typical 5th wave extension gold likes going towards 2200. The plan is the same buy the dips! if we do see 1800 and even better 1760 these levels are key! this is the trade of the year for me.
Cant decide on next moves after this leg i suspect and lean towards the start of a bear market 2200 is assured 1.618 of the wave 1 and can go higher although d top also remains possible. Here is the count lets see.
finalised scenarios i prefer the higher test fake out of channel testing 1860 with 1790 become shallow support of a leading diag targets above become 1960 and higher within a breakout wave 3
as it looks now we may test 85 before raking sl to 47 all bullish scenarios
As suspected gold making leading wave 1 1760 is pivotal and maybe tested one more time yet target above 1872
Bear scenarios are exhausted invalidations are almost done I am looking for a dip around 1720 which is now a well tested pivotal level
Update on the longer-term plan so far I see a correction 61.8% bear volume came in and although I am very bullish a flat scenario still remains short term. Above 1620 bull is safe and all dips are been bought.