Short

GOLD (XAUUSD) - Big Bearish GARTELY

Updated

What could be a Wave C inside a big bearish Gartely is almost done.
If the count is right, we should see a new low around 1600 and maybe lower.

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well, the entry at 1876 is working but the leg formed doesnt looks to me as a motive wave (impulsive 1,2,3,4,5 wave) so i wondering for others possibile counts in wich we might reach 1920 area before the real move down. lets see what happens.

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Wrell, above 1866 we have to consider this possibility, with another next leg up to 1920 - 1950 area

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would be possibile and becoming realistic af

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Actually im looking for close my shorts at BE of 76 if the 72 area will not holds. A break of 78 might confirm the count here above.

Trade active

Ok, for the moment the area of invalidation is not broken, so we are holding shorts and this would be the outcome of the beginning (wave 1 of 5) for the validation of this main idea published here

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the actual count that we are following (there are at least another three possibile but this is the preferred atm)

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ok, these are the more probable 2 valid counts atm, red and blue paths. The following of the red might be a confirmation of the main idea published here.

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well...

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Well, the big scale count into the idea (the red path) might be wrong, cause this move down may be an A wave and this might be the path of the inner wave 3 of that ewave A

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Well, actually this might be two different things (that impact on the major counts):
a motive 12345 wave:

in wich we are into the last leg (wave 5) before the big ratrace up (that also might be already done at 1767).

Or a double series of 3 (333)

inside a D or E waves into the big triangle of the big structure.

Honestly i start to smell something of this second ipothesis.
Lets see what happens with the last NFP of the year.

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Maybe we are not in 5 waves down but in a three drive?

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next short zone would be the red area

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well, atm this is my first count

in wich we have completed 5 waves down inside a C down to a new lower low below 1680

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We might also had completed the first 5 waves down (inside an A?) and going for a deep retrace up (like 820 - 30)

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Well, the above post has worked well, now, regarding the EW count, we might stay inside a big wave C down like this, with those targets,

but we need to see how it will delevelopes

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fra978

Related publications

GOLD (XAU): EW, the cycle might be done (forget 2k for a while).

by fra978

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