OwenMohd

OwenMohd

WXY completion of a previous bearish impulse on daily. Also coincides with Y2015 top.

OwenMohd Updated 

Do check the related idea for Daily chart. This is retracement plan. If A wave makes another high on H1, the retracement I expect is a zigzag. Risk is high selling B wave down but 1215/16 should be bought up quickly because C will be aggressive if that level is touched. I'm only buying the C wave and selling off its high.

OwenMohd Updated 

If 1203-1198 doesn't hold, target is 1170. However bear looks a little stretched here tbh because 1296 was still a higher high. The technical retracement I'm expecting up to 1258+ offers best risk reward.

OwenMohd Updated 

Still looks legitimate irregular flat unless bulls can break and maintain 1230. The overall price target is still calling 1212 or 1203.

OwenMohd

Still looks legitimate irregular flat unless bulls can break and maintain 1230. The overall price target is still calling 1212 or 1203.

OwenMohd Updated 

Watch out double bottom.

OwenMohd Updated 

I'm not supposed to publish. Hope there's enough info here.

OwenMohd Updated 

Hi guys. I won't be able to publish for awhile so hopefully this post you can see the roadmap I'm looking which will be beneficial for your future trades. - Long-term perspective: I think the bull from 1046 to 1375 indicates that the bull cycle should last approx 2.5 years (2016 to mid 2018). So its always good buying lows until that time is up. If we refer to the...

OwenMohd Updated 

I keep seeing irregular flats reversing on target points. As long as I see them, I'm willing to trade them. The SL is based on $3 below the projected target of 1240 for C wave. Good luck everyone.

OwenMohd Updated 

I just noticed a different count in the subwaves. This is the 1240 breakdown target for short, then bull again.

OwenMohd Updated 

From my calculations, Gold may be close to topping and its currently sitting within a pullback of wave v. There's a price symmetry of wave ii and wave iv in that its both $14 worth. Wave iii is the extended wave, which means wave v should be hitting 1:1 of wave i at around $1240+$16 = $1256/57. Problem is if 5th is truncated, which is common, then gold would've...

OwenMohd Updated 

Please check my previous trade idea where I was short and tracking the bear move off 1263. () - which now leads to this idea for a potentially rewarding long. As long as the channel holds, the current pattern indicates an upside bias of either 1-2-3-4-5 on a larger degree or as ABC. For a bearish case I don't have a reason to take positional shorts yet except in...

OwenMohd Updated 

Gold rally from 1216 to 1263 looks like a large irregular flat at this point. From my last idea I went short at 1259 and my targets now are 1227-1225 (running flat) or 1220-1215 (expanded flat) - under the green lines are usually ideal for flats to end. After which the longs positions should want to retest the high or break it. For now I can only assume that it...

OwenMohd Updated 

Confluence of 3 separates targets and general resistance. Further, the rally from 1180 to 1268 is $88 which I think is significant. As long as price is above 1237 this target of 1268/70 is live and easily reachable. Ideally target should hit tomorrow (Friday) or following Monday. Short targets thereafter I'm comfortable with 1234 or 1212. Bull needs more zing...

OwenMohd Updated 

In my view there's a missing wave, which I'd consider as 5th of 3rd (blue) for now and the projected targets as per chart. The 1265-1277 targets may be far fetched right now but notice wave 3 is barely that much longer than wave 1 so wave 5 could over shoot. While its possible for deeper retrace I'm curious as to why 1220 is holding above my purple trend line....

OwenMohd Updated 

Gold rally from 1122 to 1220 made a perfect 5 wave move. Now its bearish mood for Wave 2's ABC on the daily. I'm expecting wave A to end at 1182 (possible stretched 1177), then bearish retracement for B up back to 1200/1205, then a larger C wave down to the lows.

OwenMohd Updated 

Finally got to sit down and some analysis done. The math for inner the wave 3 (tentative) are all correct. Now I'm expecting wave (iv) trade but it can either big a deep (c) swing or a shallow one. Rules of alternation dictates this wave (iv) should be deeper because (ii) was relatively shallow. I would like to short Monday on the open (1210-1212) to 1193 if...

OwenMohd

The last rally in the first week of 2017 - 2233 to 2282 - could possibly be the last wave of wave iii -1.42% leg. There's also a subtle bear impulse wave off 2278 (red line). Daily and now weekly is showing decent divergence along with impending wedge break. The news is also confident that Trump stepping into office is good for equities . While that is true, I...