If 1203-1198 doesn't hold, target is 1170. However bear looks a little stretched here tbh because 1296 was still a higher high. The technical retracement I'm expecting up to 1258+ offers best risk reward.
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As of Monday 10/7 close there's a 1195 target so I wouldn't start fading the bears just yet. If gold produces another small bounce before going bear again then different target.註釋
Finally, last down: 1196/95. There are no calculations left except 1184 if gold breaks down 1193.註釋
I'm short 1218/19 for decent risk reward (smaller positions) and looking at this. 交易結束：達到停損點
My shorts hit breakeven. This is my updated chart:I had to go back to my original wave count where wave circle iv on daily was a running flat. This changes alot of calculations, as per chart the target completion was 1206. I erroneously introduced another sub-wave this week instead to be on safer side due to Yellen news. It doesn't matter anyway because it looks like wave A is forming nicely and we can capitalise on buying B wave bottom for C wave rally. It looks like a zig-zag correction, perhaps 1.5-2wks. Then resume longer term selling on daily/weekly chart.
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This is a decent area to start building short positions. Above 1254 and above 1258 are my zones.交易進行
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I'm short and looking at this if B wave materialises. Won't really know until the waves form but there's a higher likelihood that another upside C wave will form. If it does: will be very quick as compared to A wave. 註釋
I'm ignoring A-B-C. I think it's just going to sell off into wave 3 down from here. My earlier shorts BE. Now selling again. 註釋
I'm TPing shorts below yesterday's 1254 pivot low. Reason is i see a WXY on h1, indicating that wave 2 of C is in play. (FOMC created the C wave). No point risking shorts since its easy to sell again if my wave count gets invalidated. So I'm buying later for 2 waves then selling hard possibly 1288 or 1275. Bulls are getting stretched as it is. I'll put up charts when i can.註釋
This is my ref chart. Waiting for the C blow-off dip before TPing shorts.
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My WXY didn't work and blew past my red line. I like going long at green line 1264 and above 1262 red line. Seeing as there are only 2 impulses left for this C, it is prudent to spread long positions across down to 1260 in case ending diagonal forms. Destination targets of 1275 and 1288 remains.註釋
My longs triggered and my wave count is still valid across all my brokers. For some reason Tradingview's XAUUSD IDC quotes show that my count was invalidated:This is not the first time this has happened so I'll stop using IDC from now on.
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Last rally here. Gold is really vulnerable especially at 1279-83. Or possibly double top 1274.註釋
Last rally done. This is my wave count and long term short positions:Good luck all.
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I won't be updating this chart idea anymore.it turned out to be Daily retracement idea lol. Anyway, its just a bunch of 1-2-1-2s within the 1250s and 1260s region until then Wave 3 daily kicks in. Just sell $5/10/15 pullbacks for a couple of months. I'll publish a new idea if I think this wave 3 of C (weekly) formation changes.
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I changed my mind about updating this chart. Truth is I find it tiring publishing new charts. Here's the update. Still short and adding on continuation shorts 1291.90:註釋
1261.90 (not 1291.90)註釋
Just be wary of bull and bear traps here. Main trend tends to confuse people before it sets off. This is my expectation because I still can't see bullish side yet unless 1274 breaks.Remember that Wave B (bear trap) correction need not go that low to activate Wave C (bull trap). The correction on H1/H4 a zig-zag.
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