Short

Updated

GOLD (XAU) 15min - EW cycles: Wave (C)

We are going above than expected in the last idea (linked below), but i still think that we are in a Wave (C) before of a new low (to 1640 - 20 area), according with my counts.
Precisely, it looks to me that we stay inside the last 5th wave of a "zigzag" ABC (5-3-5) where the first 5 (the relative A) are a w-x-y-x-z.

I stay convicted that we are into a big correction so far, and only a break above 1826 (the final confirmation would be 1840) will invalidates this count.

So, here is published the whole counts from March 8 in 15 min TF to monitoring what happens.

Final levels to watch at (if 1790 will breaks) are: 1804, 1806, 1811, 1815, SLs should be above 1826 - 30 levels.

Above that area i think this idea of the C will be invalidated cause in that case we may stay into the new Bull Cycle (the big 5th wave, precisely 3rd of 5th).

I will post comments with updates of the counts here and on my old idea (on bigger tf).

"Like with Cheers" would be appreciate if u like my work, thanks you so much! ;)

May the pips be with you...

Note

Closer view of the last 5 waves up inside the count of (C):

Note

Higher tf view:

Note

this remains valid untill 1760 will breaks down:

Note

ok, looks like we make a double 5 inside the 5th wave (extended)?

Note

this abcde as wave 4 could be a possibility:

Note

this is another possibility:

Note

there is also the possibility that the 5th is already done:

Note

this is another possibile scenario cause i see a missing wave 5th so far (its also possibile that will ends with a failed one):

the key could be in the bottom TL of that ending diagonal, a break below that might be a fall.

Note

Actually we hedged 1780 and 83 with stops below the bottom trendline, lets see if this is an overlapped wave 3 inside the diagonal:

Note

hedged here lets see this could also a wave 3 in downside.

Note

BE CAREFULL, this is possibile:

Note

btw, the PA looking like we might stay inside a B wave, so this would be the counter count:

Note

Eyes on 1757:

Note

But... this count is still in play and perfectly valid atm:

be carefull

Note

OK, when my worst nightmares looks they are coming true...

this might be a correct count for the wave 5. Hoping that i'm wrong cause im holding shorts.

Note

this marker would invalidates the subcount of the green path (hoping that)

Note

first sign of invalidation arrived:

Note

Ok, i got an alternative count that would fits in terms of bear cycle. lets see how it will developes.

Note

on smaller tf we may stay inside the first wave of the bigger 3 in downside:

Note

Makes sense and would fits perfectly to the rest of the previuos count that i have:

Note

The updates will posted on the new idea, here:

(click to see it).

Order cancelled

This idea is not more valid-

fra978

Related publications

GOLD (XAUUSD): big complex moves 'till the end of the correction

by fra978

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.