GOLD-XAU/USD has been trading in a Running Flat Corrective Structure for the Intermediate (B) (light blue). * Please see the Long-Term Analysis Post for a birds-eye view.
In our view, GOLD-XAU/USD is preparing to end the last leg within the Running Flat in Intermediate (B) (light blue), with its Minor C (red). Minor C (red) unfolded with a Expanding Diagonal & a Channel towards Minutes iii & iv (blue). Minute v (blue), the last leg, unfolded as an Extension, as per the 161.8% Fibonacci Extensions from Minutes iii & iv (blue). Within Minute v (blue), Sub-Wave Minuette (iii) (black) has been confirmed with the 161.8% Fibonacci Extensions of Minuettes (i) & (ii) (black). Minuette (iv) is expected to correct until 38.2-50% Fibonacci Retracements of Minuette (iii) (black). Minuette (v) (black) is expected to end at the 61.8% Fibonacci Extensions of Minuettes (iii) & (iv) (black), which coincides with the 161.8% Fibonacci Extensions from Minutes iii & iv (blue).
The 1220.00 Levels are posing as Significant Support in our view, as per the Support Trend-Line (red) pointed on our chart. We are not convinced that the Support Trend-Line would be Breached, although, should this be the case, we would see GOLD-XAU/USD heading towards 1180.00 Levels. Should this pesimistic scenario happen, then the Corrective Structure for Intermediate (B) (light blue) would change into an Expanded Flat and we would be interested to buy around the 1180.00 Levels. In case of Bearish Continuation and Breach, it would be good to watch for a Flag Formation and then consider selling towards 1180.00 Levels.
GOLD-XAU/USD is expected to form a Bullish Divergence at the 1220.00 Levels and confirm the end of Minor C (red), leaving room for Intermediate (C) (light blue) to begin its Bullish Cycle.
GOLD-XAU/USD - BUY Position:
Entry - 1220.00 SL - 1193.00 TP - 1304.00
* Safety Measures: - When in the green, move SL to break-even or in profit. - If Conservative, wait for a Bullish Impulse and BUY on the next Local Retracement or, in case of Breach, watch for Flag and sell towards 1180.00 Levels.
just sent an e-mail to TV asking them to bring back the Private Ideas sharing so I can avoid any trolling like this and will share my ideas from now on only with my private audience
PAEFXPRO
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great! Can you please give me your template?
Lionheart-EWA
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@NGHI, click on "share" and then ''make it mine" , hope it helps. Cheers
PAEFXPRO
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@Libeloo24, OK you can give for me the pictures on your Mn and W1?
PAEFXPRO
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@Libeloo24,
I want to look it a total gener
Lionheart-EWA
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@NGHI, I understand although I am open to these kind of regular answers and questions with my private traders, more info in my status. Thanks for understanding.
ElliottWavePro
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Hi! There's a huge mistake: wave B couldn't be an impulse wave...
Lionheart-EWA
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@IgnatBorisenko, Hi Ignat, you could be right and you could not. Until recently I had the Intermediate (A) as the Intermediate (1) and the Minor A as the Intermediate (2), the moving forward, I had the Minor B as an Impulse Minor 1 which makes the recent down-trend as the Minor 2. Then I had a better look at the structure on daily chart and I noticed that we are in a Retracement ABC Cycle on a larger scale. Until further notice this is how I roll. As for the mistake that you pointed out, the Running Flat in Minute IV could be the Minute B and that would make it alright. Nobody's perfect but the impotant thing is the predicted direction. Thanks. I am open to speaking further about this in private if you want. Many pips ahead!