WEDGE is in final moment... 3 times the principal support line has been broken. 43 USD next support (repeated many times in the past)
Very soon break down for Gold. But I feel that there will be new drops after. Keep alert.
A more wide perspective about my forecasting.
TRIANGLE going to breakout. Future Options --- strike 1145.
39.3 + 14.7 + 8.7 = 62.7 (DROP DOWN) 17.4 + 9.6 = 27 (PULL BACKS) Then 62.7 - 27 = 35.7 35.7/ 0.6 = 23.8
Hellow friend, be prepared for SHORT trade. First, wait for confirmation of BREAK DOWN...
You can see the IMPORTANT MOMENTUM for GOLD. Break a so VERY HARD RESISTENCE... and MAYBE the BEGIN of the NEW RALLY.
I can see a new RISING WEDGE going to end very soon.
Working with Elliot Waves + Fibonacci + Transit of Venus I arrive to this possible movement of S&P500.
Thursday 24 and Friday 25 are KEY DAYS for REVERSAL BREAK UP. You can OPERATE previous UP and DOWN... and after take advantage with the BREAK of pattern. The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In...
My perspective for the next days if tomorrow 8 Novemeber there are GOOD NEWS for HILLARY CLINTON....
This is my perspective for the next days.
DOBLE TOP will cause a new DROP DOWN.
VERY SENSIBLE moment right now. 75% PROBABILITIES than a new DROPDOWN
Well, Well... we can see that the new wave is in process of a long journey to aprox. 53.00 USD. In the bottom you can see the first microwave 1-2-3-4-5 , its correction ABC and the second microwave 1-2-3-4-5. It have a nice rythm. You can take advantage in this first moments and be LONG TRADE or CALL options.
I think that the formation 1-2-3-4-5 is finished and the Gold need a NEW SUPPORT for the next Elliot wave. I give you two possibilities for this support point: 1282 and 1278. If in the top rigtht now appear lateral formation, the correction will be 50% of the 1-2-3-4-5 wave. But if in the top right now don´t appear lateral formation, the correction will be 68%...
If we see the perspective in candles of 4 hours we can see other formation. Is very importan see the trends from differents time frames.