Gold to Break the Recent Low Tonight or Tomorrow

Updated

It looks like we have an impulsive count to the downside for a C or 5th wave. I'm looking for the Green 5th wave to extend to the deeper fibonacci target of 278% after a decent 4th wave bounce... but first it needs to complete blue 345 to the downside.

Deeper Targets possible - will update the idea as it progresses.

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I would love it if Blue 3rd or 5th extends but I expect it to be green, it's usually the last 5th wave that sinks the battleship... but then Gold doesn't usually do what I tell it to either, so that's IF...

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Blue 5, Green 3 - sorry working off my minutes chart...

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We should be making Green (4) now main chart top of the page...

Which is Teal Circled 4 on the this chart.

There's a chance 4 is over in a single wave, but probably not - more likely it will take two hours to complete or more.

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I still have my puts, I will close them over the pictured 62%

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Actually I think will be starting Teal 5 any second... if this was a C wave of 4 it would be climbing higher faster most likely.

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- meant to paste this

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If anyone is following, please leave a comment!

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Consider taking some profit at 2325 - there is a reasonable chance we get an even bigger bounce there.

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The stab lower that just occurred could have reversed and started a 4th wave - but instead it looks like it is a 1st wave of an extension. Stay Short.

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And 2322 was the bottom of that wave - big 4th underway now.

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I think the 4th wave will be wrapping up on the next high... not sure we didn't make it very high but clearly the trend is strong.

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Next pop will be 38.2%, a completed ABC to 123% and 5 waves up for C - that has a reasonable probability of being it.

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As messy as my minutes chart is - the wave finished exactly at 162% - and so far we have ABC up... once B down is complete and if we get really lucky, we may get a super strong C wave up next... hopefully all the way to 50% with only small dips... but there's no telling for sure once you're in corrective waves.

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I think this should be what we see next.

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Never mind i do not trust it to that high - update in a second

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Tricky tricky gold... this seems most likely.

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I think we're in C down... it will be 2310 if it's 50% of A... 38% would come in at 2314.

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feels like we're definitely in C down now. Same targets.

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Bottom's in I'd say

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No no never mind making a 1-2

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I think the market turns around on the next low... to make the 4th wave anyway. Close on the next dip for sure.

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tradingview.com/x/59UYHzyK/It may have already completed 3 in a broadening diagonal - I don't think so but it's possible. The recent waves are likely a 4th wave before one more down - BUT they feel exactly like we're already in the larger 4th wave.

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Fold flagging - fib targets 2275

Trade closed: target reached

FuturesIntelTM

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