We are currently in a 5th Wave of a GOLD cycle on the weekly timeframe.
This 5th wave is what we see currently developing as a potential ENDING DIAGONAL
If we are able to see a strong reversal pattern from where price currently is, that may be the beginning of the 4th wave of the ENDING DIAGONAL
S&P 500 currently developing as a POTENTIAL 1D BUTTERFLY.
We could see price hit 5250 (new possible ATH).
After we could witness a minimum of 10% decline in price
A possible Leading Diagonal currently developing.
Wave 5 is yet to complete.
Price could either react from the Trendline Resistance or we could see a possible Throw-over should the Harmonic pattern (Butterfly formation) play out.
A short term buy to complete the pattern and a long term sell for the ABC Correction
A potential BAT or ALT BAT is currently developing on 4H.
But before the bearish move, we could another Potential GARTLEY, CYPHER or SHARK
on the 1H timeframe
In line with the possible bigger BAT or ALT BAT pattern developing on the 4H timeframe which is a bearish move,
We could possibly see this GARLEY PATTERN on 1H timeframe which will be a short-term buy before the main bearish move resumes
DXY is currently developing the C-D leg of a POTENTIAL BAT or ALT BAT PATTERN.
We should see a correction downside soon before the bullishness resumes.
For the longer-term
USDXXX - BUYS
XXXUSD - SELLS
