Gold: Monthly downtrend and wave countI decided to expand on my gold analysis with the help of rgmov and neowave concepts.
I think that the monthly downtrend is still valid, and that we will visit the projected target at 913.82 in time, which might validate the wave count on chart.
I entered a pending order and got filled for a short at 1129.15, and SL at 1140.56, and also entered a sell stop at 1116.32, and SL at 1156.66. My 3rd pending was a limit sell at 1134.85 but didn't get filled yet (same stop as the 1st at 1140.56).
The optimal entry was highlighted in my previous publication, a short at the top and SL at 1171.89, which I sadly missed!
I'll update this publication with the daily chart as we progress.
I've been discussing these ideas with @look4edge, @ncoulb1, @sokow and @jangseohee. Make sure to check out their works.
Feel free to comment to enrich this discussion, and good luck if going short!
Ivan.
