Long term Bearish, but am looking for a correction this week.
Last 2 moves up have been a 61.8% retracement. They both have
been fairly sharp and quick. Suspecting this move will be similar.
I don't want to see the yellow trendline touched. If that happens this
analysis is wrong! Know it is going to try extremely hard to break it.
Note: It's also making a...
Still Bullish. Volume not quite there yet, but could be soon. Just really believe (so far) we are in a big "C" wave up on the Weekly & monthly time frame.Timewise as well this makes the most sense. On this shorter time frame we are just starting the Wave 3 up. A break below the current low would make this analysis incorrect. Anyways this is strictly speculation &...
I believe this correction downwards is close to being completed. If not already.
If we close below that "Yellow trendline" it will be over for the Bulls. If that happens
we are probably in a large triangle. Don't think thats gonna happen.
We are going up to break the top of the "A" wave. Details on chart.
All Traders "Have a Good Weekend!
Really think we are going to remain "Bullish" At least till June of this year. I just can't see this as a Triangle. For now I am analyzing this move as a
"C" wave up. Target @ 1478.00 area. This is close to 100% of the "A" wave. Currently believe we are in the 3rd leg up where we will reach the top of the "A" wave @ 1375.00. Predicting a shallow 4th leg around...
Looking for a Final move up, before I believe this Correction is complete. In my opinion, it is a W-X-Y-X-Z. Both wave "W & Y," have been an ABC
Or at least they have tried to simulate one. The "C" waves are sloppy five wave moves up. IMO are a bunch of ABC's simulating a 5 wave move.Am expecting that in our last "C" wave of "Z". Should get more volatile next week...
Currently still in "Bullish Mode". Appears to me the last move up was a "Leading Diagonal", for a Minor "Wave 1". Looking now for a Minor "Wave 2". Expecting a complex correction that simulates an "Expanded Flat". If correct we should see our strongest move up yet, with an Extended "Wave 3". Details on Chart.
Still Bullish, but believe there is more to the downside, before we push Upwards. After further analyisis believe we are looking at the 1293.xx area before we progress upwards. Apologize for first Post, but believe it is incorrect.
Appears to me the "Wave 2" could be complete with more to the upside. Looks like a complex correction with a strong "C" wave to end it. If correct we should see a "Violent" move upwards. Details on Chart.
Believe we are still "Bullish" in Gold for now. A break of the bullish trendline would deny this current action. In a wave 2 of a Wave 3 (extended wave) Appears to be a "Complex correction" Looking for a downwards move to the 1282.xx area before we progress Upwards. If this analysis is correct we should get a Strong 3rd wave up.