Short Gold @ 1229.5 after Bearish Crab pattern completion

٢٣ يناير ٢٠١٧

Potential reversal in gold @ 1226 -1231 area

• wave 3 = wave 5 of expanding ending diagonal
  
• a of 5 = c of 5
  
• Bearish Crab potential reversal zone
  

٢٤ يناير ٢٠١٧

ملاحظة

Good long trade from risk-reward perspective is possible here. Price is supported by trendline, 200 MA and last but not least this EW count ;)

٢٤ يناير ٢٠١٧

ملاحظة

Another possible EW count I watch, suggests Gold might be in a corrective W-X-Y sequence already denoting running flat as W and possibly zigzag as Y. This may take us lower, to 1190 - wave 4 of (5) from previous structure and 0.236 retracement level from 1207 high.

٢٦ يناير ٢٠١٧

ملاحظة

No sign of reversal, don't catch a falling knife