GOLD (XAU): EW, the cycle might be done (forget 2k for a while). for OANDA:XAUUSD by fra978

GOLD (XAU): EW, the cycle might be done (forget 2k for a while).

Well, referring at my last idea in which we are into an E leg before the last wave 5 in the bull run (related in the follow), I think that it might be wrong.

In fact, analyzing the entire cycle of gold, I think that it is done and there arent anymore waves 5 to complete, cause the 5th has been completed at 2076 $.

So, in this idea I would suggest the possibility of a Leading Diagonal (as wave A or Wave1) formed beetwen 2076 and 1676.

This could be means that we are just started the formation of a sub-wave A (composed by an impulsive 12345) inside a bigger C wave that potentially can goes to $ 1520 | 1412 | 1275 as main targets.

Anything beyond that 1275 would means that we arent into a C wave but in a new bear cycle heading probably around 500$ price area.

So, the next potentially big short area would be beetween 1795 and 1845 (watching closely at 1817) for the formation of B or 2nd wave inside this count.

I will post screenshots in the comments of the idea.

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Typo error into description: "next potentially big short area would be beetween 1795 and 1845*..."

not 1845 but: 1875

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the red rectangle into the drawing is correct btw

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be carefull, this might be possibile, i really dont understand the main count (would be for real the E leg like in my previous idea linked below?)

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s3.tradingview.com/snapshots/a/a7riMEF3.png

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mid terms possibile paths:

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Btw the inner count shows this to me:

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What i can potentially count atm

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Alternate count:

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If this is a 5 3 5 i think we are in wave 2:

otherwise the move up might be finished and means this was an X (or B) wave, but trying to find a valid inner count, the only that seems had a sense would be this (535).

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This is a possibile alternative scenario (bear); if 1819 will breaks probably we will stay into an A down:

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This is the possibile scenario in which im looking at rn:

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The other possibile scenario according to this idea would be this:

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Actual count of the potential inner B wave:

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Actual situation:

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The B maybe already completed:

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This maybe a valid count actually:

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Lets see if the Wave E inside the big B (abcde) is completed. In this case... we should have a strong and sharp big move down as C

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B is almost over?

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fra978

Related publications

GOLD (XAUUSD) - What if u are counting 3 waves as 5?

by fra978

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