Ok. This has been a very tough day. Gold did violate my counts and rallied. Now we are at my last stronghold - orange wxy interpretation. I still have little doubts that the gold is bearish, but I have to work on my confirmation bias when looking at short-term counts when holding positions in the assets that are the subject of public analytics. I will keep putting disclaimers.
What adds to the frustration is that stock declined yesterday and gold rallied (which I kind of saw the other way around 😖))). So now the outlook is that stocks should bounce and gold fall. Let's see if this negative correlation can work in our favour here.
As previously said - a lot of good EW counts was wasted in the red rectangle area. Other than that the chart looks organic. A pinbar or bearish engulfing + steep decline that traces 1-2 waves will provide further confirmation.
Takasis I know, man, you keep telling me that gold is bullish. You score but the game is on🏉. Share a chart if you do not mind.
What adds to the frustration is that stock declined yesterday and gold rallied (which I kind of saw the other way around 😖))). So now the outlook is that stocks should bounce and gold fall. Let's see if this negative correlation can work in our favour here.
As previously said - a lot of good EW counts was wasted in the red rectangle area. Other than that the chart looks organic. A pinbar or bearish engulfing + steep decline that traces 1-2 waves will provide further confirmation.
Takasis I know, man, you keep telling me that gold is bullish. You score but the game is on🏉. Share a chart if you do not mind.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.