as critical date is coming for brexit, chart is also nearing on ending of a big correction. after that big drop (shown below as update) now seems another one will follow. on chart is shown expanded flat with clearly recognizable sub waves. i will make updates and follow it in smaller time frames as structure evolves if theres interest for it..
update! this is one of the possibilities how it can proceed... after that sliding down now correction is following, so, if as shown in chart now it makes a diagonal that can be enough to be considered as B structure (or maybe it will become some more complicated) of the correction and after C part which can take us up to 0.786 of that motive wave and make another...
the structure is slightly changed from what i was expecting but its still downside... so it made clear abc within last C wave of the correction, which now i expect to extend to that blue zone and there we will have potential cypher pattern for downside. so we will see how the price will behave at that point. stay tuned...
1 minute ago
here on gold after running upside beyond that running flat on 4H/D1 i assume we will have a bigger degree correction now. so i think this is wave A from the correction and now can make running flat and proceed down or it can pull up to zones where it can be expanded flat and make nice cyper pattern which will give us good entrance. everything depends...
as stated in previous chart, this made running flat. all tho i was aiming for expanded flat.
so for now if this brakes and falls down below parallel line than we can label it as running flat. till its inside the lines it makes more complex structure.
with the previous chart (in comments) we got nice up movement which came to be last part of B wave and the price turned down for wave C.
since its going all by the book i will assume that it will be regular flat and will swing up at that red lower parallel line! BUT we must see the price movement at that lvl.
gold seems to making diagonal on daily tf. with braking the top the structure would be finished but where it will find the resistance and turn point i dont know, must check previous resistances at those lvls