gold retrace exactly 0.382 ending expanding flat now in dragon pattern within smaller tf. Within a weekly expanded diagonal we finished ew wave 4 and now looking for conclusion of wave 5 and end of cycle. Many very bearish here by ew theory this almost perfect psychologically of what happens at the conclusion of 4th into 5th
slow going but we are sideway likely new cycle, i these times who knows lol
everyone very bearish now, went much deeper than i anticipated without retrace. Now i see bull retracing at least a large percent of bear short term at least with suspected highs still to come. Expanded flat completed wave c extension 1.618 and 0.786 of move
another idea suggested @VRShaiju ending diagonal which fits into subdividing 3 within extension 5
An idea based on ending 5 and double top pattern giving targets that coincidentally fall into 4 of the previous wave and ending 4 start area of 5
I see another leg down around 1530 level short term more upside is possible to 1660 area with a slight chance of making on or near the previous top.
Now bullish at least short term with supports at 65 57 35 looking for at least 1630 depending on ew count. This could be a surprise high bull move after such a drop volatility can see this move with power up to and testing previous high and beyond
strong bull move that is showing some bearish divergences for a while on higher tf, 54-57 is support previously from 2013 and known range between 1660 and 1560 back in 2012-13. I feel we must some correction as this is 5th wave of 5th at leats short term to 90 failing that 60 and major correction etsting 1450's possible but unlikely. Still bullish longer term...