GOLD (XAUUSD) - Possibile GARTELY PATTERN or ABC CORRECTION
So, we are again in a giant correction and probably we will rest into it untill post elections (middle November?). What i see as possibility now is a slowly drop to 1880 - 1855 area, then from there a rise up to al least 1955. So a strategy atm would be to hold the sells untill 1880 and close them from there to 1860 and then try a buy to 1955.
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This would be the idea of the inner count:
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3 different scenarios to the road to 1760:
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today updates (before US elections):
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during the election day:
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the entire idea:
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We are in the short area (red rectangle):
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OK, we shorted at 1956 cause that was the potential reversal point of the gartely pattern at 1,272% of AB, but here we have a different and probably more accurate version of that pattern with a different method of puttinf the fib extensions, so probably the next entry will be at 1968:
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two examples of gartely pattern (educational to find the 1.272 extension):
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updates:
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LOL
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Ok, the Gartley was completed and played well with shorts. Now lets see if our count will be validated. this could be the new impulse down (first wave in upper count):
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