GOLD: RIDING GIANTS (updated idea)
After the prosecution in extension of the C leg, we are holding our old entries and we looking foreward for new short entries.
A potential area would be 2024 - 2041 where are some counts and mixed analysis in convergence.
We still expecting a big 5 wave down series in continuation of the first one (big A, now we are in B, missed the C).
Targets: beetween 1830 and below 1800 (1760 - 1680 area to watch as possibile).
A potential area would be 2024 - 2041 where are some counts and mixed analysis in convergence.
We still expecting a big 5 wave down series in continuation of the first one (big A, now we are in B, missed the C).
Targets: beetween 1830 and below 1800 (1760 - 1680 area to watch as possibile).
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Some lines on 2hr chart: ملاحظة
Notice that two red channel lines and the big black oneملاحظة
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i would notice that looks as a mega rising wedge on daily chart.... and we are back below the major top trendline after a failed attempt to break up... this thing, is dead: تم فتح الصفقة
The actual waves count based on the idea: تم فتح الصفقة
If this count is correct, we could see soon the start of the 3d big wave down that would bring the price below 1860. A break above 1980 indeed could bring the price till 2030 - 2050 without invalidats the bigger count, but only the inner 2nd wave.تم فتح الصفقة
In the 1hr it is possibile to sse a big rising wedge after a leg down, that usualt is a a bear sign. Lets see what will be the next move.
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The wedge closes at 1995 where is the 61,8% retrace of the actual top.تم فتح الصفقة
The actual bear COUNT: N.B this count will be valid only if we will break below 1900 with the next move down. Otherwise a move up above 1990 rn would be invalidates this count. This because exist another potential count in a BULL perspective, in that count this last leg down would be a 3 leg ABC (second wave down). So we have to wait for a confirmation below 1900, or above 1990 to have the right count and direction.
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We are waiting for the completition of the inner 4th up to 55 - 67 are to add shorts: تم فتح الصفقة
updated count: تم فتح الصفقة
the next impulse as could be if this count is correct: تم فتح الصفقة
in case that count is not correct, this could be the other possibile scenario: ملاحظة
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updated count and predictive next move down: ملاحظة
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if this impuls will happens we will finally leave the black bottom TL: ملاحظة
Updated potential move after invalidation of the previous one at the break of 1963: ملاحظة
Finally the entire structure appears to us more clearly and looks like a perfect contracting triangleتم فتح الصفقة
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We are contracting the price from 12hr into a triangle (4th wave?) before the ipotetic 5th wave. We will se the price projected below 1860?
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Time to correct up untill 1920 - 30 area with ABC move (5-3-5 ?): ملاحظة
bigger picture of the above screenshot: ملاحظة
updated outlook: we have two possibile path, it depends if it will retraces to 1880 area before the climbing up, in that case, the C will be much more higher (yellow path), otherwise, id we will continue up, the reversal area would be beetween 1926 - 32 area: ملاحظة
actual possibile count: ملاحظة
updated potential corrective ABC (zigzag 5-3-5): 
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.