🪙Gold: triangle in wave X
●● Preferred count
●
XAUUSD, 🕐TF: 1D
Fig.1
The wave count on the quarterly and monthly timeframes has not changed. You can refer to the previous review for clarification in determining the current market position. Here.
Wave X of (3) within the diagonal Ⓒ of I will probably take the form of a contracting triangle. In the triangle, growth is expected in the form of a single zigzag ⓓ.
___________
●XAUUSD, 🕐TF: 6h
Fig.2
Wave ⓒ of X is at the final stage of development of zigzag (a)-(b)-(c).
The critical level of the preferred wave count is the top of the intermediate wave (2), "invalid." level . The breakdown of this level will exclude the counting of wave X in the form of a triangle, and an alternative count will come into effect.
___________
●XAUUSD, 🕐TF: 20min.
Fig.3
It is expected that the wave v of (c) of ⓒ will take the form of a ending diagonal.
___________
___________
●● Alternative count
●XAUUSD,🕐TF: 1D
Fig.4
The alternative count advocates a deeper correction within wave (2). The down wave, which originates from the August high of 2020, can be represented by wave A as an initial expanding diagonal, followed by wave B as a double zigzag ⓦ-ⓧ-ⓨ. If this assumption turns out to be correct, then we expect a further decrease in impulse C with a target in the blue channel.
___________
●XAUUSD,🕐TF: 6h
Fig.5
Before opening a short position, it is necessary to wait for the completion of the upward correction in (ii) of ((iii)). Perspective trading setap — on breakdown of top b of (ii), in case the wave (ii) will take the form of a single zigzag or flat.
___________
Disclaimer:
— The owner of the TradeWaves-EWA © community is not responsible and has no direct or indirect obligations to the User/Customer in connection with any possible losses or financial damages related to any content of this community.
●
XAUUSD, 🕐TF: 1DFig.1
The wave count on the quarterly and monthly timeframes has not changed. You can refer to the previous review for clarification in determining the current market position. Here.
Wave X of (3) within the diagonal Ⓒ of I will probably take the form of a contracting triangle. In the triangle, growth is expected in the form of a single zigzag ⓓ.
___________
●
XAUUSD, 🕐TF: 6hFig.2
Wave ⓒ of X is at the final stage of development of zigzag (a)-(b)-(c).
The critical level of the preferred wave count is the top of the intermediate wave (2), "invalid." level . The breakdown of this level will exclude the counting of wave X in the form of a triangle, and an alternative count will come into effect.
___________
●
XAUUSD, 🕐TF: 20min.Fig.3
It is expected that the wave v of (c) of ⓒ will take the form of a ending diagonal.
___________
___________
●● Alternative count
●
XAUUSD,🕐TF: 1DFig.4
The alternative count advocates a deeper correction within wave (2). The down wave, which originates from the August high of 2020, can be represented by wave A as an initial expanding diagonal, followed by wave B as a double zigzag ⓦ-ⓧ-ⓨ. If this assumption turns out to be correct, then we expect a further decrease in impulse C with a target in the blue channel.
___________
●
XAUUSD,🕐TF: 6hFig.5
Before opening a short position, it is necessary to wait for the completion of the upward correction in (ii) of ((iii)). Perspective trading setap — on breakdown of top b of (ii), in case the wave (ii) will take the form of a single zigzag or flat.
___________
Disclaimer:
— The owner of the TradeWaves-EWA © community is not responsible and has no direct or indirect obligations to the User/Customer in connection with any possible losses or financial damages related to any content of this community.
🆓 Больше аналитики в Telegram: t.me/freetradelife
📚 Методичка (Ellliott Wave Guide): t.me/elliottwaveprincipal
📚 Библиотека (Ellott Wave Archive): t.me/biblioewa
💎 Premium: t.me/freetradelife_premium
📚 Методичка (Ellliott Wave Guide): t.me/elliottwaveprincipal
📚 Библиотека (Ellott Wave Archive): t.me/biblioewa
💎 Premium: t.me/freetradelife_premium
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.