GOLD SELL setup

업데이트됨
In my view gold is bearish and sell point is close.
Arguments:
- 4 week trendline is broken.
- divergence in last top(17 jan)
- wave 2(blue) looks like clear abc (5-3-5) zigzag pattern.
- goldusd move is opposite to usdjpy. and in my view usdjpy is clearly bullish.
there may be last little swing up, which should not go beyond 17 jan top.
in anyway selling flag breakout will be a good idea.
also there is a good R/R ratio!
Keep an eye on it!
Good luck!
노트
스냅샷
Before posting an idea I doubted about my wave count.
Today price exceeds 17 jan top level.(a little bit, but it does)
wave 2 can't correct more than 100% of wave 1.
so it looks like abc correction pattern 3-3-5 flat. (wave B can correct more than 100% of wave A)
so, sell setup is still valid, but now it's short-term sell.
we need 5 waves structure to comlete wave C downward move. (wait for 3 swing down, and to corrective swings up) 1st wave inside wave C may be done.
good luck!
거래청산: 스탑 닿음
액티브 트레이드
It may still be an active trade.
스냅샷
ABC(blue) flat(3-3-5) pattern should correct 3rd wave(yellow).
Here is full picture.
스냅샷
If wave B(blue) is done, gold should start falling in the area of 38% of 3rd wave (1191).
keep an eye on it!
노트
스냅샷
노트
if it breaks, sell it!
스냅샷
노트
looks like possible ending diagonal
스냅샷
노트
one more scenario for wave (c) - diagonal.
스냅샷
노트
looks like zig-zag pattern.
flag breakout will be a confirmation.
gold may drop well below 1991
스냅샷
노트
possible scenario
스냅샷
액티브 트레이드
1991 target is reached
next one is 1174
스냅샷
거래청산: 타겟 닿음
Original price target (wave C = 1.618 * wave A = 1180.7) was reached
스냅샷
Goldgoldusd

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