Looking for a Correction now for a Minor Wave "2". Believe this will be a shallow retracement at the 1266.90 area. For this Bullish movement to progress forward the Cayan trendline can not be touched. If this analysis is correct more to the Upside. Because we had a Running correction for Wave 2 this next impulse Wave should really move fast.
In the 4 hour time frame we are looking at the 1233.4 area for the "C" wave to complete. After that we are "Bullish". Strongly Bullish for the "3rd" wave up of Wave "3".
Believe we are finally in our Minor "C" wave down to end this correction for Wave "2". The sweet spot is the 1233.00 area. For this count to work the "Bullish trendline" must not be touched (what so ever). If this Count is correct we will be starting Wave "3" of Wave "3" (Much more to the Upside) Believe this Minor Wave "2" will test the blue dotted trendline one more time
Looking at a strong move down (Wave 3 of Wave C). Currently in a complex long correction for Wave 2 before this continue's downwards. If this is correct looking at Targets 1242.5 and 1236.5
Currently believe we are in a Wave "C" down to complete a Wave "2". This "C" wave has completed wave 1 and is now correcting. Appears to be an expanded flat with the "c" wave sub-dividing (wave 2). Looks like a test to the minor wave "4's" and then a strong move down. Will make a nice Head & Shoulders.
Sorry, after further analysis have changed my count. Still believe we are "Bullish to 1253.00. After that a "C" wave to approximatley 1233.90 before we return "Bullish" After that we are "Bullish"
In the Longer term on this chart believe we are forming an ABC flat correction (3-3-5). At the shorter term analysis we are currently in a double zig-zag for the "B" wave which is incomplete. Looking for weakness at the 1253.00 area before we progress downwards. Good shorting oppurtunity. Target is at the 1234.00 area.
Short term buying oppurtunity to 1257.00 area. After that Short. Still in a Wave 2
Currently believe we are correcting downwards now. (A larger Wave "2") before we proceed upwards. Looking at the 1236.00 price for this to end. Will probably be a bumpy road down. Meanwhile looks like a good shorting oppurtinty to 1248.00 area. An ABC where AB=CD.
Currently we are in the 4th wave down. The "C" wave of the final wave to complete wave "4". Has been a complex correction. An ABC flat followed by another ABC flat. Looking at the 1243.50 area for the 4th wave to end. After that a move to test the Top. Wave 1 is the longest with Wave 3 being shorter. This said Wave 5 will be the shortest. After that we will get a...
Believe the "X" wave is the strongest area for support and resistance. This chart shows the trading range we are currently in. A break above or below this range imo would be a strong buy or sell. Am presently bias towards the "Bullish" area but am not married to it.(Been there & bought the t shirt)
Currently believe we are in a 4th wave correction. Looking at the 1241.00 area to hold for one last push up to 1262.00 (A test of the Top) After that more correcting downwards.
Currently believe we are in a minor wave 2. Looking for similar characteristics of the larger wave 2. Is probably going to be another running correction. Will break the minor wave 1 followed by a weak "C" wave down. Cannot break the purple bullish trendline (If it does this analysis is wrong) A leading diagonal is normally followed by an extended wave. Many buying...
Believe we are Bullish. On a daily chart the Wave 2 is complete with more to the upside. Looking for the bearish trendline to get broken.
Believe we are currently in a Wave "2". A good place for this to end at is the 1221.50 area. After that another strong move upwards. Believe Wave "3" will test the top.
Looks to me like one more move down to the 1179.00 area for Gold. Currently in a complex correction downwards. Bullish trendline (Red) has already been broken. Good shorting oppurtunity. In the bigger picture if 1179.00 holds we should get more to the upside (1300.00 area) The "A" wave up appears to be a leading diagonal and we should see a move above it. There is...
Currently believe we are in a "B" wave with more to the upside (1307 to 1336) area. To do this we again have to test the Bearish trendline and push through it. After that there will be more to the downside. Short term Bullish
Gold is still correcting down (Obviously). Believe it is a complex correction,starting with an ABC and is now going to end in a triangle. Have seen this pattern a few times now (If correct) Market needs to move sideways and cannot go any lower if the Bulls are to survive this one. Will have to wait and see.