GOLD: some ideas
Updated
Hallo People of Tradingview,
good morning!
It's only Monday therefore please don't rush in and be patient.
I hope you all had a nice week end.
Here I am happy to share with you my picture of GOLD. I will try to publish updates on intraday moves in preparation to the next meeting of the FED expected on the 25-26 September. I am trying to keep it simple.
I am not sure if A and C are re-tests of broken support following the meeting of the FED back in August. The descending 200 SMA is proving to be a dinamic resistence but the move X to A may also be the 1st of a five wave impulse following the 1160 low. Considering the rate hike expectations I would expect further pushes towards lower lows but I am not entering the market based on my expectations. I prefer to wait and look for further clues to be unfolded.
The period of accumulation formed by ABC may be a 2nd wave bottoming on the 0.618 fibonacci. Depending on where D will form and subsequent move we will have more clues to be ready to the FED meeting.
Please share your views and comments. Any idea is a contribution for better understanding The Matrix.
Please note that I am not a professional trader and these are my personal ideas only.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Thank you for following and for sharing your ideas.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
good morning!
It's only Monday therefore please don't rush in and be patient.
I hope you all had a nice week end.
Here I am happy to share with you my picture of GOLD. I will try to publish updates on intraday moves in preparation to the next meeting of the FED expected on the 25-26 September. I am trying to keep it simple.
I am not sure if A and C are re-tests of broken support following the meeting of the FED back in August. The descending 200 SMA is proving to be a dinamic resistence but the move X to A may also be the 1st of a five wave impulse following the 1160 low. Considering the rate hike expectations I would expect further pushes towards lower lows but I am not entering the market based on my expectations. I prefer to wait and look for further clues to be unfolded.
The period of accumulation formed by ABC may be a 2nd wave bottoming on the 0.618 fibonacci. Depending on where D will form and subsequent move we will have more clues to be ready to the FED meeting.
Please share your views and comments. Any idea is a contribution for better understanding The Matrix.
Please note that I am not a professional trader and these are my personal ideas only.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Thank you for following and for sharing your ideas.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Note
Below please find the 1H chart which I hope may help to focus on possibilities and https://timing.https://www.tradingview.com/x/GYADqpmp/Note
Here below the pair EUR/USD 1H chart. To note the SMA is 400 instead of 200. Note
Note
At page 40 of the Elliot Wave Principle there is an example of the potential unfolding move. (0104.nccdn.net/1_5/1d1/31d/37b/A.J.-Frost--Robert-Prechter---Elliott-Wave-Principle.pdfNote
Below a picture of a possible scenario:Note
Another scenario:Note
Note
Note
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