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Waves

Bullish bias, target 1673.After the end of wave 5 (previous downtrend), gold has started to correct, maybe in a big ABC setup, or even in a new big impulse 12345. However, we should watch 12345 waves, inside big A wave or inside big 1, it doesn't matter. First we see 1 and 2, inside 3 we have another i,ii,iii,iv,v setup. Gold has retraced to 50% fib retracement levels of wave iii, this can be the end of wave iv. Inside iv wave, we can see small a,b,c setup. Here we have two scenarios : *First one in red, continuation from 1650's levels to 1673. *Second scenario in gray, we are ending small b inside iv, going down to create small c to start after it wave v. If this scenario is valid, Gold will probably retrace until 38.2% fib to end small c. Two buying setups are available, from 1655, or from 1635, knowing that iv shouldn't retrace more than wave ii, let it be the stoploss of the second scenario. Hope you enjoyed this analysis, Joe.
OANDA:XAUUSDLong
by joe-abdallah
[09/29] Beast Trading _ Today's Bitcoin Analysis Beast Trading _ Today's Bitcoin Analysis After a sharp drop from the night of the 27th, there are more ups and downs than expected. In the case of a normal adjustment wave, it is often returned to 0.382 / 0.5 / 0.618 of the trend wave and then proceeded to the trend again. The black square section is considered to be a downward impulse wave. After the fall impulse wave ended, it returned nearly 0.618 of the fall. *The reason for viewing the black section as a falling impulse was because a very strong transaction volume occurred in the part predicted to be 3 waves, and the falling angle was also very steep. There are two probability scenarios that are shown on the current basis. 1. 19.8k was the high point, and when it was slightly lowered after being hit by resistance near Fibonacci 0.618, the upward reversal ended. Now it will go down to a downward impulse. (Blue Path) 19.8k is not yet a high point, but there is one more high point renewal left. It will slightly renew its 19.8k high and start a downward impulse. (Purple Path) Not both of these, but we also have to be prepared for a rise The position where the black interval drop-pulse view is discarded is 20.4k. If you break through 20.4k, there is a high possibility of an additional increase. The downward impulse perspective is also discarded. Until 20.4k, I would like to recommend short positions, and if you pierce it, you should report the situation and respond flexibly! The market is very difficult these days, so let's make good results with flexible responses :) These days, I feel that the intestines have more fakes and the difficulty has increased a lot. As waves emerge differently than before, many people are having difficulty predicting. The more this type of market is, the more we need to focus on responding. Be sure to think that your predictions may be wrong when trading, and think about how you will respond if the predictions and charts flow differently. :)
Short
by BeastTrading_Sehyun