This is a follow up to my previous Big PIcture Plot calling for $1650 (click).
As the global tensions increase, our Precious is being hoarded.
We are possibly in a "wave 3 of (3) of V" type of move here.
The path is a GUESS but the Zones are SOLID, and WILL react.
Posted are 3 time frames, showing various aspects of the projection.
There are several "Orders" of Elliott Waves at play, big one on left.
There are numerous "Fibs" at play, from the various "Impulses".
To blow up any single chart, hover over lower center for Navigation Buttons.
To reduce overlapping numbers, drag UP on the PRICE scale to enlarge vertically.
Pardon the messy charts, will post a cleaner and more definitive chart later.
Here is the previous outlook for $1650, posted Oct 03, 2019:
XAU.USD path to 1650 on way to 2100
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See other plots below, under "Related Ideas".
=========================================
.
As the global tensions increase, our Precious is being hoarded.
We are possibly in a "wave 3 of (3) of V" type of move here.
The path is a GUESS but the Zones are SOLID, and WILL react.
Posted are 3 time frames, showing various aspects of the projection.
There are several "Orders" of Elliott Waves at play, big one on left.
There are numerous "Fibs" at play, from the various "Impulses".
To blow up any single chart, hover over lower center for Navigation Buttons.
To reduce overlapping numbers, drag UP on the PRICE scale to enlarge vertically.
Pardon the messy charts, will post a cleaner and more definitive chart later.
Here is the previous outlook for $1650, posted Oct 03, 2019:
XAU.USD path to 1650 on way to 2100
=========================================
See other plots below, under "Related Ideas".
=========================================
.
Note
Local Wave 4 done?So we have been pulling back for last 24 hours or so, and just hit the key support at 1555
Of course we could easily fall through and go lower, but I would like to see a bounce here.
.
Note
Wave 5 in progress?Still quite possible that a wave 5 is being born, albeit an ugly pin bar 4h candle
.
Zoom in (5 min) on the bounce, with a fib added and possible EW structure developing
The 12345 above would be a wave (1) of higher order.
The ABC above would be a wave (2) of higher order.
Zoom OUT (15 min) and assume our little bounce thus far is an Impulse of wave (1), put a fib on it
That fib placed on the bounce, has its 4.236 at EXACTLY our first target for wave 5
.
In SUMMARY:
- Pullback (wave 4) after Iran spike (end of wave 3) went exactly to our support zone and bounced.
- Bounce (wave 5?) this far looks like an Impulsive wave with good 5 piece structure.
- IF the bounce is our wave 1 of the 5 we are seeking, THEN it could very well take us EXACTLY to our target.
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Note
Wave 3 Target Dead Ahead!Making some good progress now, Target in sight and on schedule
.
Zoom IN (1h) we do have a possible speed bump on the road ahead
Watching closely.....
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
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.