ewturk

ewturk Updated 

The current Elliott Wave pattern analysis remains valid as long as price stays below $2,757 Daily closes above $2,757 would invalidate the current wave count Traders should exercise caution and consider adjusting positions if price approaches this critical level This invalidation level serves as a key risk management point for positions based on this...

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Confirmation Level: 97544 Invalidation Level: 92520

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Gold appears to be completing an Elliott Wave correction pattern Wave ((4)) is forming a regular correction near $2665 level Once Wave ((4)) is complete, expect Wave ((5)) to move towards $2600-$2590 area Key invalidation level remains at $2699.91 Short positions can be considered after Wave ((4)) completion and momentum confirmation Current price action suggests...

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Price and Time Targets: Price: >50% to <78.6% of W.1 Time: Minimum >50% of W.1, most likely 62-162% of W.1

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Gold is waging a battle to clear out short positions before a major decline. The news about China's gold purchases appears to be part of this strategic market manipulation. According to Elliott Wave Theory, the 4th wave must exhibit an ABC structure, and we haven't yet observed a clear C wave formation. Therefore, we should anticipate a downward movement, using...

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On the Weekly timeframe, the open liquidity at 2758 has been cleared, followed by price targeting the FVG (Fair Value Gap) between 2529-2546. After filling this FVG, price action targeted the 2724-2686 range that formed during the downward movement, which has now been filled. The next potential targets are the open liquidity at 2536 and the POI (Point of Interest)...

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W0-W1: 1614-2079 (+465 points) W1-W2: 2079-1810 (-269 points) W2-W3: 1810-2790 (+980 points) Let's create scenarios following the rules: Scenario 1: Simple W4 Calculation Since W2 is complex, W4 will likely be simple (alternation principle) W3 movement = 980 points Maximum allowed for W4 = 50% of W3 = 490 points Therefore first target range: 2790 - 490 = 2300...

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Primary Wave Count: The chart indicates we are in Wave 3 of a larger impulsive structure, with a potential pullback forming Wave 4 before the final push to complete Wave 5. Key Levels: Wave 4's main support zone aligns with the 2412–2471 range, where buyers are likely to step in for the next upward leg. Invalidation Point: The ongoing 4th corrective wave would be...

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Looking at the updated Elliott Wave analysis of Gold (XAUUSD), we can observe a clear ABC corrective structure: Wave A completed a 5-wave decline from the highs Wave B formed as a corrective rally, reaching around $2720 Wave C is now in progress, developing as a 5-wave impulse structure downward Currently in Wave C: Wave (i) has completed and Wave (ii) is nearing...

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The internal structure shows smaller degree waves labeled as (i), (ii), (iii), (iv), and (v), particularly visible in waves (3) and (5). The parallel channel lines helped identify the trend direction and potential support/resistance levels. The projected target for wave (5) completion appears to be around the 2,535-2,550 zone, where we might expect some support...