mamnunamalik

mamnunamalik

Correction is going on. Lets wait to complete and then buy for new ATH.

mamnunamalik

Price is making the last move towards all time high and this move will complete the major 3rd wave. My target is 2494-2510, which can be new ATH.

mamnunamalik

Major 3rd wave is still yet to complete. I will break down the full analysis on my hourly chart draft.

mamnunamalik

Major 3rd wave is about to hit its minimum target. Besides that we can see an ending diagonal in Intermediate 5th wave of major 3rd wave. 3rd wave is about to end very soon and after that we will see a correction of Major 4th wave then impulse 5th. Thank you.

mamnunamalik

Gold price is currently at its 3rd wave and almost there to break the 1st wave high. If price breaks it successfully then we can set our target till 2565. Only look for long position.

mamnunamalik Updated 

Only if this is a double correction. Or else the X wave will be the 1st wave and the current one will be 3rd wave.

mamnunamalik Updated 

Maximum target for Wave 5 is 2470.675 and Maximum target for entire wave is 2482.074 Price must overlap between these range. September rate cut probability is 100% and price will in these days and no more big move after pricing in for September Cut. All I see price is completing a Major 5th wave and each wave has 3 moves (abc) An Ending Diagonal.

mamnunamalik Updated 

Gold is in 5th wave and ready to make all time high. But currently the price is in a strong supply zone. Lets see how price reacts from this zone.

mamnunamalik

Dear Traders, Formation of Zigzag Correction is 5-3-5 which means A has 5 moves B 3 moves and C 5 moves. And the B will retrace maximum 50% of A which has done today. We can see clear rejection from 50% retracement. Now price is in impulse C which will have 5 moves. 1st move of C is happening right now which means we still have opportunity to grab more sell...

mamnunamalik

Price is in correction ... After completing the correction we can aim for a new all time high. Buyers can buy after completing the correction and sellers can hold their sell positions till the C wave to complete. P.S. C wave will have 5 moves inside of it.

mamnunamalik Updated 

I only trade through Elliot Wave and these are my findings. 1. 1st wave was in extension with total of 21 moves 2. 2nd wave was a Flat correction and retrace the 23.60% of 1st wave 3. 3rd wave was extensive with total of 9 moves 4. 4th wave was a Zig-Zag correction and also retrace the 23.60% of 3rd wave which makes both 2nd wave and 4th wave similar in nature of...

mamnunamalik

If you are following my previous post then you know that Gold is in 5th wave. This is how price should react now. Check my previous 2 posts then you can understand the movement.

mamnunamalik Updated 

Dear Traders, Price is making the last wave of 5. Which will be the last impulse before a major correction. Minimum ceiling is 2208.xxx and maximum is 2272.xxx

mamnunamalik Updated 

According to wave theory it represents the Triple Correction Pattern (WXYXZ) First Flat then Zigzag and now again a Flat correction is forming. If this wave calculation is legit then ''Z'' should fall to minimum of 61.8% (2132.574) and maximum (2083.494)

mamnunamalik

Hey my beloved traders. We have been in a good bull run in this precious metal but we are seeing rejection from 2195 level because in weekly chart GOLD is making an ending diagonal. In Ending diagonal all the 5 waves are consisted of 3 moves which I mentioned as "ABC" You can clearly see all the waves 1/2/3/4 had moved with 3 moves and now price is making the...

mamnunamalik Updated 

Dear Traders, According to 4 hours chart a flat correction is completed perfectly. Now we need to watch and observe gold how it reacts. If price starts to move ahead then the next stop will be at 2055 and if it breaks then 2086.

mamnunamalik Updated 

Rejection from any of the fibo level can lead the price to 1980 but the rejection has to be happened after forming ABC formation.

mamnunamalik

I can clearly see a 12345 formation has completed of correction "A" with ending diagonal. Price will retrace now and make "B" then we will see an impulse "C" My plan is to sell GOLD from 2029-2032 zone and my first target will be Fibonacci 38.20%, second target will be 61.80% and last will be 81.20%