Erhan_Eker

Erhan_Eker

Uptrend continue and still we have not yet completed Wave c of Wave iii

Erhan_Eker

We are now correcting down for Wave b of Wave iii. Then we will continue to go up

Erhan_Eker

We may have a modest correction around 1.2051/59 but overall uptrend should continue

Erhan_Eker

It looks we have already completed Wave (b) of Wave (iii) and head up for above 1.11

Erhan_Eker

Still waiting for the last leg to 88.48 (or even 87.24) to turn up.

Erhan_Eker

Gold went one more leg down and killed premature wave i & ii. However it remained on the edge of higher degree count and strong resistance 1250 hold so far. Recovery from 1250 looks like five waves, so we need one more 5 waves move to around 1265 now

Erhan_Eker

Upmove continue and have lots of room to go

Erhan_Eker

It looks we completed Wave iv and we should go through 1.0474 resistance to correct for the Wave (b) of the Wave (iii)

Erhan_Eker

Head and shoulders target is met which can be wave iii of Wave (a) of Wave (iii). We have plenty of potential for higher rest of the year

Erhan_Eker

Bottom targets are still waiting to be visited. 93.75 resistance can be key to reversal down.

Erhan_Eker

There is no considerable update until from last update. Cycles I follow are very bearish for the upcoming weeks. So I am some cautious. Better just watch this market from outside

Erhan_Eker

1251 low fits with Wave -v- of Wave c targets and 1250 level is a strong demand zone. So we can consolidate here for recovery to upside. We also breached down to channel. This is sometimes trigger a processes of resumption of last sellers along with profit taking of early shorters. This processes often end with with test of upper trend channel test and even break...

Erhan_Eker

Bullish breakout confirmation of larger degree wave count. Current development looks like the wave (a) of Wave iii. I am cautious because after Wednesday cycles i follow are bearish for this pair. Will follow the test of 2.1973 Murrey Math level.

Erhan_Eker

This chart patterns supports HEW count

Erhan_Eker

Even though pull back ratio is not perfect it looks wave iv is forming. Then we will probably complete wave v of wave (c) around 5958 or 6991. From this point we will go don to complete Wave (iv). Whenever Wave (v) of Wave of Wave completes, this market may enter a rather long bearish development

Erhan_Eker

Waiting for a break to clear the outlook. Upcoming days are rather bearish on cycles. So, i am suspicious about bullish outlook however current recovery from 2.1484 has potential to base for a sharper rally.

Erhan_Eker

It looks we have already completed bottoming on wave (ii) (But let one more down leg which may test 1250) and by the completion of wave ii we can go up to test 1281.50 Murrey Math level.

Erhan_Eker

Down breakout confirmed bearish scenario where we are looking for last leg which will form Wave (v). Two price levels are favors from fibo extensions; 1st: 88.41/43 -> 50% extension of Wave (iii) and 223.8% extension of Wave (a) of Wave (v) 2nd: 87.14/24 -> 58.6% ext of Wave (iii) and 261.8% ext of Wave (a) of Wave (v) After I expect to go up