BeyondEdge

BeyondEdge

Hi everyone, We saw the reaction off the completed WXY highlighted last week (linked idea below) play out perfectly and the larger three wave corrective structure now also looks complete above the 1860 level. My plan is to target the price inefficiency highlighted in the red boxes whilst monitoring how the forthcoming wave structure develops. Expecting initial...

BeyondEdge

In our bullish scenario, the WXY wave 4 correction is possibly complete and Gold is in the final sub wave 5 of the larger wave 1. A decisive break above 1949 confirms this scenario. BeyondEdge.

BeyondEdge

Gold may need a deeper pull back to achieve pricing above 1950. Possible rejection at 1938-1942. Should price reject, I expect to see a continued move back towards 1900 completing the WXY before rising to +1950 levels. Bullish move is yet to be to complete on HTF. Trade safe and I hope you have a good end to the weekend. BeyondEdge

BeyondEdge

As previously mentioned, price should now be in Wave iii of C (please refer to linked idea below). Following the lower degree wave 1 of iii, the lower degree wave 2 of iii is currently being printed. This is commonly a Zigzag resembling a 5-3-5 wave structure. We saw the initial 5 waves form during the earlier part of this week. The 3 waves of the 5-3-5 now...

BeyondEdge

*Re-post* Previous idea got removed. A guideline for all variations of a flat correction is that Wave C is required to have momentum divergence (please see linked ideas below). In this instance, the chart above depicts a Bullish Hidden Divergence on the weekly TF. A Bullish Hidden Divergence occurs when price action prints a higher low whilst the momentum...

BeyondEdge

I previously highlighted a Zigzag which was nearing completion (please see linked idea below). Following the impulsive breakdown last week, the Zigzag (Wave ii of C) now appears to be complete. As depicted in the chart, price should now be in Wave iii of C with last week's price action forming the lower degree wave 1 of iii. A lower degree wave 2 of iii should...

BeyondEdge

The chart depicts my alternate count for the current Wave 4 correction. I believe we are in the final impulse sub wave C which is close to completion. For those of you who are unfamiliar with this; a flat correction, be it Regular, Expanded or Running all consist of a 3-3-5 wave structure (ABC). As BTC had printed a more complex correction for Wave 2,...

BeyondEdge Updated 

The chart depicts my long term primary count for BTC. To put briefly, it indicates a final impulse before the completion of this wave cycle once this ongoing correction has concluded. Alternation guidelines concerning Waves 2 and 4 would allude to a simple correction for this ongoing Wave 4, as BTC had printed a more complex correction for Wave 2; namely a...

BeyondEdge

The chart depicts my long term primary count for BTC. To put briefly, it indicates a final impulse before the completion of this wave cycle once this ongoing correction has concluded. Alternation guidelines concerning Waves 2 and 4 would allude to a simple correction for this ongoing Wave 4, as BTC had printed a more complex correction for Wave 2; namely a Triple...

BeyondEdge

Wave 4 overlapped into the price territory of Wave 1 whilst maintaining structure. Could possibly see another test of Friday's low but expecting price appreciation to fulfill the diagonal Wave 5. Please refer to linked idea below. I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to...

BeyondEdge

Here's is a closer look at the potential wave (4) extension as mentioned earlier. Please refer to previous idea linked below. I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to share further ideas. Thank you for taking the time. BeyondEdge Your Edge Is Your Perception. Go Beyond.

BeyondEdge

Please see linked idea below. A wave 2 correction is typically in the form of a Zigzag (5-3-5) thus the final Wave C subdivision should consist of a 5 wave structure as depicted in the chart. Sub division breakdown: Wave (3) was shorter in length from Wave (1) which indicates that the final Wave (5) will be shorter than Wave (3). There is a possibility that...

BeyondEdge

The chart illustrates a regular flat within the longer term correction which consists of a 3-3-5 wave sequence (A,B,C). Currently unfolding is the subdivision of Wave C which began from the November high of 1877.14. Wave 2 is typically 38.2%, 50%, 61.8%, 76.4%, or 85.4% of wave 1. Sustained pressure saw an eventual break of the resistance at the 0.618 fib...

BeyondEdge

Price has left the TR and currently testing support. Expecting this rally to fail and continue onto price objectives highlighted in previous idea linked. I hope you found this idea useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to share further ideas. Thank you for taking the time. BeyondEdge Your...

BeyondEdge Updated 

Illustrated above is a break out of an accumulation set up which should see gold recapturing the price levels it fell through last week. The immediate upside price objectives are 1802,1811 and 1828. Last weeks decline found preliminary support (PS) at 1794. This temporary relief is usually followed by what is known as a selling climax (SC) which took gold...

BeyondEdge

Distribution in progress following the recent marked up phase highlighted in my previous idea. Demand has been dominant up until now with weak rallies showing evidence of declining demand. The most recent price action failing to eclipse the buying climax on 13th Jan along with a decline below the mid-point of the TR. Whist I will still remain wary of upthrust...

BeyondEdge

This publication will focus on some of the rules and guidelines of wave formation in Elliot Wave theory in relation to the correctional sequences of Wave 4 and zigzags. Whilst Elliott Wave rules are requirements and form the basis of counting waves, understanding the guidelines of wave formation is as crucial in identifying wave structure and the likely scenarios...

BeyondEdge

Update to the previous idea linked below. It appears that I misjudged the completion of the corrective structure for sub-wave iv. The final impulse of sub-wave 3 of (5) began from yesterday's low, 58.1k. The next level of interest is still around the 74k level. I will be sharing my projection for the bull market top soon... a complete wave 3 of (5) will give us a...