The Coronavirus keeps spreading, weakening Aussie despite the upbeat jobs numbers as markets take a less risky approach to the heightening threat. Technicals indicate that Aussie and Euro move hand to hand, with the former falling following a ‘holding’ ECB! Now both are corrective and at a trendline low! Pound, on the other hand, does relatively well as rate cut...
A few days ago I published this idea which is playing out nicely (for the bears, not the bulls) I think the formation is actually a triple zig-zag, not a double. But either way, the end result is the same. Here's a comparison to what happened in the last bull run in Dec 2017. This bull run, like the last, has been a suckers rally, and we all know what...
I'm predicting a price target zone between 3475.51 - 3489.52 as the end of wave Z of this TRIPLE ZIGZAG Correction. This is also the end of WAVE 2 of a higher degree.
It looks like the corrective move is still continuing as a Triple Zig Zag corrective structure to the upside with the current Price Action in the second W.x which is either still continuing as a Triangle or already complete.Strategy : In either case (Continuation or already complete W.x) we look to initiate longs with SL below W.x low and targets above 1243.
Traders, Gold’s rally 1046.54 to 1375.12 labelled (i)-(v) confirmed the reversal signature and is indicating the end of the corrective structure from late 2011 with a Double Zig-Zag pattern at 1046.54. This larger pattern is labelled, unfolding as a primary degree impulse, 1(circle), 2(circle) and is getting ready to break to new record highs for gold the next...