ABC
Gasoline futures (RB) - ABC wave patternGasoline futures (RB) is in ABC flat wave pattern from major bottom as shown in chart. Wave 3rd of C up is in progress and will be ending soon. After that wave 4 will be correct it down, which may be flat or triangle. On completion of 4th wave down, one more upward movement as wave 5 would be there on chart. Plz share your comments if you have any opposite wave count ?
Bitcoin futures (BTC) - ABC wave patternBitcoin futures (BTC1!) is in ABC wave pattern (may be the part of Impulse) and currently price is in C wave up. 3rd wave of C is about to end anytime soon. Wave 2 was flat so 4th wave should expected sharp down or triangle other than flat correction, which on completion it again go above 3rd wave to complete C wave. Let’s see how price unfold.
BNP Paribas (BNP - Paris) - ABC wave patternBNP Paribas (BNP - Paris) is in ABC zigzag wave pattern. C wave is in progress. 2nd wave is about to end and after that it should running down faster in 3rd wave. It is also under-performer to CAC40 index. It is in severe downtrend with almost no bounce within last 3-4 week. Good sell candidate for next move C wave down.
James Hardie Industries PLC (JHX - Sydney) ABC zigzag wave patteJames Hardie Industries PLC (JHX - Sydney) is moving down in ABC zigzag pattern, where B wave was complex wave. Wave C is started going down with relative higher volume and will form five wave sequence down. It is already completed 2nd wave and going down as 3rd wave with gap on chart.
USD/MXN (USDMXN) - ABC wave pattern USD/MXN (USDMXN) is in ABC flat pattern after Impulse up move, which trying to correct it. B wave was in triangle. Wave C down already started down and briefly broken down the triangle. As a confirmatory move, the price should be moved down faster. Let’s see how charts unfold.
IT40 - Italy index - ABC patternIT40 - Italy index is under-performer index among all major markets. It's in C wave down after flat B complex time taking wave. 2nd wave of C down is in progress and may end anytime soon to go down in 3rd sharper down cycle.
Gold running correction Another running correction and possible new all time high.
print---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printvprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printvprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printvprint---.......print....----.......---printvprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---printprint---.......print....----.......---print
04/04-2020: XAUUSDLets start off with taking a look back at this chart from October 2019:
Heres how the weekly chart currenty looks:
On the 4h timeframe red trendlines highlights both regular and hidden divergences appearing all over this market. ''C'' is a 261.8% extension that was followed by a 15% decline! Considering the huge drop, im expecting this trend to continue and another dip in this market is anticipated.
A trade with stops above the highs targeting the lows would not be a bad idea IMO.
Whats your view on XAU/USD?
Share your comments in the section below
Thank you for reading