This Idea is a continuation of the first one, the first TP hit where we are looking for at least 1741, I'm looking for lower targets but we will see
-Throughout the progression of the last Idea, we reached TP2 of bat (type 2) and the forming of new shark 1.13 and deep crab in (1927) hop lvl is (2001). -I must say that harmonics must have a confirmation disruptions reaction, ie. head and shoulders, double top, rising wedge... -Through looking at DXY, US10Y, Inflation 10 y rate (USIRYY), inflation...
Short target 1830, will happen in 3-4 months a counter-trend move (corrective structure). Then resumes falling
For now, I don't think that gold made a turn. hence, didn't complete a proper low, should it? need a solid bullish turnaround to make a clear judgment. From "Scenario 1" I for seeing that the wave in pinkish color has been corrected for 50%-61.8% and respected that area a conformation would be breaking 1751 with a strong movement. I have to hold on to my targets...
For now, I don't think that gold made a turn. Hence, didn't complete a proper low, should it? Need a solid bullish turnaround to make a clear judgment. From "Scenario 2" I for seeing that the wave in cyansish color need to be corrected for at least 38.2% and respected that area would also be the TP1 of the Bat harmonic, a conformation would be respecting 1751...
From where I see now that wave 3 of 4 of C has not ended yet, looking forward for forming 5 of 3 to start correcting the fall from 2080ish - to 1676 with a big correcting toward no more than 1780-1800 range then heading to wave 5 of 4 of C looking for 1540-1420 area for the mid-2023. please check my other analysis linked below.
We've formed a monthly Alt bat that I think is still active, hence the first target not being reached yet, that being said a Bat pattern is still in the testing phase, where if it failed looking for the next crab pattern to be activated around 1540-1420 area. please check my other ideas linked below.
From a technical point of view, I found that a broken flag might get re-tested, then heading lower to around 1540-1420 range with that OB. please check my other ideas
as point B broke my deep crab shows a potential price of sub 1780
As what I see now is that gold as always makes all those endless questions of where it's heading, though the first question is what is the PA is giving us? in a monthly TF bearish to with alt bat + deep crab 1680 where Elliot wavers call that for a flat correction for C. daily TF shows 0.786 gartley already in a type 1 reaction heading to 1930ish if that failed a...
keeping this idea as a general guide where can we see a bigger pattern unfolds, where the 28/20 doesn't violate any rules or overlapping trends, mainly I want to see clear PA reversal for that confirmation daily - weekly. The floor might be very near to be established
As gold sits in the middle of the road of bullish - bearish, I'm leaning towards the bearish side unless the 1921 mark is broken ( that's for later on ). anyway, I didn't like that impulse of that gartelly right away with not going through phases, even though it's considered not complete, so I'm taking that as the end of wave 3 and 1811-1803 as wave 5 for minor...
I was bearish after the 1998 drop, hence my count was to be the ending of a bull cycle and starting a bear one with the butterfly pattern, that not the case after seeing no proper correction to 1965-1970. After seeing the ending diagonal forming + a shark pattern. we might still be in a bull cycle. there will be a rection next week and slowing down of that...
This shows a step-by-step movement of gold bull than bear, the first target is that bat harmonic pattern, while the second is a crab with 1.618 yet to be tested.
I believe that the dip is over and we are starting a new trend high up
This Idea clearly shows that BTC has not yet ended correction, hence a primary C from expanding flat has to be filled, If BTC finds support above 51K meaning that this idea is invalid and BTC is bullish.