Possible move up to sell teritory
Link rallied back to a Bearish order block.. a possible sell
H1 Structure broke and possible mitigation and another leg down.
Broke H1 Structure and possible another leg down
H1 Structure broken and possibile mitigation for another leg down.
Possible wave5 up after a correction.
Possible ABC correction of the impulse move down. Currently on assumed wC up. it could be well a Wave3 if it breaks 1.618 fib
Due to the sell off, I plotted two scenarios where gold can be going to. Bullish scenario will be invalidated if Wave 1 Teritory is validated by this move down. if not, we can still assume a bullish continuation. If it does breach w1 teritory we count be going to a 5 wave impulse wC down back to 800 area.
Assuming the Wave C is almost completed and a ending diagonal is in progress we could see a move up, with a minimum target of the the previous Wave 4 Teritory.
Assumed Wave A in progress, after a sell off, we can expect it to consolidate for another assumed w5 move down.
W4 traingle assumed completed a possible start of w5
A possible ending diagonal in the works
XAUUSD Weekly.. Possible new highs if assumed w3 is correct.
Looking for more downside to USDCAD.. in the current reads w3 is in progress after the break of the assumed triangle. stalking this pair and waiting for w4 to take place and place a short to ride w5.
Assuming the complex w4 is completed by the ending diagonal. We should see a quick impulse move up for w5.