Gold: Ending Diagonal for (5) of V
Updated
I have been looking at this for 6-8 months, trading it lightly, and there have been too many visual issues with the pattern to feel very confident most of the time. However, I believe I am beginning to see the Ending Diagonal form where I have been so eagerly seeking a standard impulse. By my count, we are coming to the end of a super cycle, so an ED makes sense.
I have not included a bunch of fibs in the chart, and log is OFF, so these are pure levels in a relatively short time frame. I am expecting this move to end, imminently, short of the 2.618 on this ((c)) wave, keeping with the motive rules, since the ED, in this case, is technically NOT CORRECTIVE. However, ED's are made up, typically, of a series of 3 wave moves, and stopping short will probably make a certain element of the market leery of buying pull back, as I have been for some time. But, I do expect that if this is an ED, we should see 2k HOLD, and then get a standard wave 5 (OR E, if you prefer) extension off of the Minor 1-3, which could hit in the 25-2700 range to conclude, next May.?
Hope this helps, and it is merely an observation.
Best,
Cuz
I have not included a bunch of fibs in the chart, and log is OFF, so these are pure levels in a relatively short time frame. I am expecting this move to end, imminently, short of the 2.618 on this ((c)) wave, keeping with the motive rules, since the ED, in this case, is technically NOT CORRECTIVE. However, ED's are made up, typically, of a series of 3 wave moves, and stopping short will probably make a certain element of the market leery of buying pull back, as I have been for some time. But, I do expect that if this is an ED, we should see 2k HOLD, and then get a standard wave 5 (OR E, if you prefer) extension off of the Minor 1-3, which could hit in the 25-2700 range to conclude, next May.?
Hope this helps, and it is merely an observation.
Best,
Cuz
Note
I said that wrong. in a diagonal, I expect a breach of 2.618 in an impulse, since the 3 wave moves mimic corrections, rather than strict motives.Note
Did it get loose? I was busy destroying equities, or I would have sold a 2375 June K. Glanced, but didn't get back to it. Did it get there?
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