Believe we are currently in a 2 wave.Its gonna come back a bit
and test the bottom. This wave down (that we are currently in)
should be strong & longer than the first wave. The yellow 2 was
an expanded flat correction.(signifying strength to downtrend)
Details on chart.
Good luck traders & have a good week!
We just finished a corrective move down. An ABC with an agressive C wave.
Believe that is our larger B wave and we have now started our C wave up.
If we arrive at 1899 that could possibly be a wave 2, Then more to the
downside. Details on chart, Good luck traders!
Gold loves its triangles & it appears we are forming one? Perhaps?
Need a 3 wave move down now to rub the bottom trendline.
Then up from there. Volume dropping (sign of a triangle)
Good luck, everyone!
Gold has finally closed above the major 4th Wave(Cayan).
It's tried numerous times & failed (This is huge) In
otherwards we are going to be Bullish here for
quite some time! On the other side of the coin,
I am expecting a correction downwards first. Perhaps a
Selling oppurtunity? (Against the Trend) On this chart
I've marked out the strongest lines in Cayan....
Looking for the Bears to take control this week. The
most important point being, 1282xx has been broken again.
Cayan trendline should get broken and am targetting the 1237xx
to 1197xx area. Really thinking the WXY (B or 2) is a running
correction & this will be a fast move.
Good Luck & enjoy your weekend!
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...