Short

GOLD (XAUUSD): Riding Giants (updated idea for the 3rd wave)

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This is an update of my old ideas from August 2020 (links are below). According with this EW count, 1930-1938 (1945 might be the max extension) would be the potential 2nd wave completion area and consequently a big short for the 3rd big potential wave down. The target for this 3rd wave would be around at 1740

Uwaga

I think that the 2nd wave (the up move), in not done yet and we are not in the 3rd right now. The main idea would be that we are in a big corretive move (a giant ABC), now the challenge is to understand how will it developes this correction and this might be an idea:

Uwaga

So, the main idea is still valid: we are not done yet with the up move, but now the target could be more higher than the initial 1930-1938 and the 1945 might be the minimum right now for the C, with a max to 1970 - 70 area.

Uwaga

typo: with a max to 1960-70 area*

Uwaga

ok, the last forecast for the correction was wrong. What we can expect now might be like this, hoping that the B leg is not a 2nd wave for a series of 5 up because in that case we could see another bull rally:

Uwaga

The 5-3-5 ABC correction (2nd wave) might be done (finally). 3rd has started? If yes, we are in the 1st of 3rd. This could be a forecast:

Uwaga

we was expecting 1945 at least, but the first prediction at 1932 looks is working out (need of confirmation with this series of 5)

Uwaga

looks like that we dont have any confirmation yet :( we are again in correction mode. That 4th wave is not happened.

Uwaga

this is the current outlook:

Uwaga

again the current oulook at 4hr:

looks like we are in a rising channel, inside corrective waves again.

Uwaga

the possibile inner counts of the correction in wich we are:

Uwaga

fra978

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