Good evening and good night!
This chart here explains all the details. Take note of the extended 3rd wave and 5th wave. the measured moves bring about truncation.
Looks like we will be trading inside a box for the next week or two. Be great for shorts and longs. I apologize for the split screen. I will post pictures below.
Good luck!
This chart here explains all the details. Take note of the extended 3rd wave and 5th wave. the measured moves bring about truncation.
Looks like we will be trading inside a box for the next week or two. Be great for shorts and longs. I apologize for the split screen. I will post pictures below.
Good luck!
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Snap shot full screen.
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Snap shot zoomed out.
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Gold stuck in triangle, good news for shorts is that it is bearish and is going to bounce down from E wave.
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I still think this is bearish. This pattern here is shaped like a Double Three(Zigzag/X/Triangle) Combination.
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Well it is nice to see that worked out. I made good on the short and caught the bottom for the long. I know my arrow on the above chart calls for lower but I saw after my post a bounce off of support. I never up dated that idea because I was in the middle of catching the long.
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I longed the bottom at 1453.xx and took profit at 1464.xx ( I had a stop in place which was triggered. Will have to wait until Sunday to see where Gold is going.
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Looking like a simple zigzag with triangle b wave.
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Weekly Leading Diagonal. Ruffed in!
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Fresh Look
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So here is an update for Gold. We did not see a deep retrace for wave 4. That has changed the short targets as indicated on this chart. I left the pivot points standard on this chart to show the R3, IMO that is prolly the best place to short Gold because it is within the target zone.
