Alecampos83

Alecampos83 Updated 

I think that Eurusd made a strong expanding diagonal since 1970 to 2008. ( rare but not impossible ) This diagonal was made only of corrective waves. Then , 2008 crisis began. Eurusd start it's bearish trend as what it seems also a Diagonal, but this time contractive ( wave A ) It seems to me that we are in the pullback of a shoulder head shoulder created from...

Alecampos83 Updated 

Will the price manage to respect the yearly support area, or its the 4th subwave over yet and we will continue to finish wave 3?

Alecampos83

“Gold is basically ignoring a stronger dollar and rising Treasury yields,” Michael Armbruster, co-founder and managing partner at Altavest). He believes that indicates , primarily from central banks that are committed to dedollarization of their reserves.” Similarly, Oxley pointed to speculation that the continued strength in gold is a “wider paradigm shift...

Alecampos83

Bullish rally of dxy may persist due to robust indicators of the U.S. economy, contrasted with a weaker Eurozone economy. Additionally, the possibility of Republican candidate Donald Trump winning the upcoming U.S. presidential election is further supporting the dollar. However, the mixed macroeconomic data releases from the US limit the US Dollar's strength,...

Alecampos83

Gold made a perfect cup and handle formation for wave 5 profit. I think that if we made a 5th wave extension, it might go even higher to 1.618 of the beginning go 1 and ending of 3. Bullish target at 2878. Then, we can see a huge drop I think.

Alecampos83

Are we looking to go to the first support area at 1.086? It seems we had a doble top formation in a rising wedge that had a fake break. We are at 90% Retracements of what I think is wave 2, so idea is still valid .

Alecampos83

On Lower timeframes , I think we might me doing waves abc of 4 still. Wave C is at the support area, and then we can make a new high.

Alecampos83

On Weekly timeframe, I think Gold might be doing the last ABC of the leading diagonal, If you go back to wave 3, it was an ABC as well. This only can happen in diagonals. I also think we might have a truncated wave 5th, why? wave 3 was incredibly strong , and in this cases, this might happen.

Alecampos83

On higher timeframe ( weekly) it seems we are making a complex correction as well, Wave Y are usually a triangle or flat ( in case wave w was a zig zag as in this case) Most probably, it could be a flat, so we can arrive 61.8% area as wave 2 . Also, ADX indicator is about to begin what it seems a new strong trend.

Alecampos83

I think Eurusd is being part a complex correction WXY since September 2022. First , we made an intense zig zag ending at July 2023t , then , we made and ABC correction ( wave x ) ending October 2023t, and now it seems we appear to be doing a FLAT Abc as wave Y. If the wave C is already completed as it seems, the crash will be huge.

Alecampos83

Expanding diagonals, they are not often specially in daily, hourly timeframes, but what about higher ones? As Peter Goodburn said: "Returning to the expanding-diagonal, the question remains, does it exist, can it have a place within the Elliott Wave Principle? To my own satisfaction, I have proved that it does, and that it is more commonly found unfolding that...

Alecampos83

I think the price is making a descending triangle pattern at the moment, or a flat top ¨abdce¨ triangle regarding Elliot waves. Which direction will it go? Will the buyers be able to break that level or will the resistance be too strong? This pattern usually break to the upside, but if we see the bigger picture, we are still in a doble three pattern and not yet...