GOLD (XAUUSD) - NEW SWING IDEA
After we reached the target at 1740 and 1720 (1740 - 1680 area ) from my previus idea (attached here), I would say that a beautiful wave 4 made of an inside ABCDE ( 3 3 3 3 3 waves) strucure might be in competition (or already completed), in that mentioned area.
But looking at the formation of this last leg down I would say that this could looks also as a wave 3 (wave 3, YES!! :D ), so I'm starting to play around this new exciting big idea and i drawed the extensions and retracements aaaaand...
here is the idea: a formation of 3 3 5 waves in wich we are into the wave 3!!!!!
This wouldnt have any impact in the bull count of the gigantic wave 4 before the last up move, so would be completely possibile in a bull scenario. Enjoy!
But looking at the formation of this last leg down I would say that this could looks also as a wave 3 (wave 3, YES!! :D ), so I'm starting to play around this new exciting big idea and i drawed the extensions and retracements aaaaand...
here is the idea: a formation of 3 3 5 waves in wich we are into the wave 3!!!!!
This wouldnt have any impact in the bull count of the gigantic wave 4 before the last up move, so would be completely possibile in a bull scenario. Enjoy!
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the light-blue ABC in this screenshot might be realistic too: Note
updates of a possibile path: Note
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Next move? Note
Possibile candidates of PRZ for potential shorts are: 1745, 1750-52, 1761Note
Expecting this at the moment: Note
hedged at 1706, lets see if will goes up to 1760 - 80 area: Note
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The above two comments has been revealed as wrong counts by the price action of yesterday. This is the new possibile one: Note
:D Note
Wait wait... this up move gone too high, we are in 5 up: Note
WAIT (again)... 5 waves up may already done! In this case we will retrace from here: so this could be the next shape.
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I'm start to thinking that this idea doesnt matches with a correct count of the waves and subwaves. Something doesnt matches with measures, rules and PA considering the count of the big 5 waves down. So i will post a new one soon.Note
This one (referring the move from 1850 to 1676) instead, perfectly matches with all the rules (also counting all subwaves inside that i have on other charts, ando considering the porportions beetween the inner main legs): Trade closed manually
This idea is not more valid for me, new one here: 
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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.