INTRODUCTION - This is the second 01/19/24 binary, 3-hour bar, 16-trading day ultra detailed, CONTINUOUS & EVOLVING FORECAST for direction and shape of price action in FX_IDC XAUUSD gold ticker. From the notes in end of DRAFT 3, this revised "inverse head-and-shoulders" break-out scenario is derived from all combined current trends from micro to super long. This is the final setup draft because it's either like this or I give up. If it is like this, I will finish this time frame with daily binaries (5-1, 5-2, .... and so on).
DETAILS - In chart above, very light blues and very light oranges are from DRAFT 3. The difference with this "final draft" is the "rhythm" from here to 02/02. Even though we did not even test resistance today, combined data from 20 trend maps say we will Sunday night into Monday, and break resistance either Tuesday PM or Wed AM. Price should complete retest of support next Friday. Once again, the way the intermediate trends are set, this route does not allow high 2-way vol from 02/02-02/09. This is because the shorter intermediate trends ARE SO FAR BELOW the longer intermediate trends, that the resetting of their position (think catch-up repositioning) require price action to be - more or less - a straight one way line (as opposed to zig-zag and regular retracing) and that 2060-2130(or 2140) must also be restricted to 6-7 trading days.
WARNING - This material is for experienced and responsible traders only. If you have any question in your mind whether you are experienced or responsible, then THIS IS NOT FOR YOU. As precaution, the first rule of trading is DO NOT lose money. As reminder, the second rule of trading is do not forget the first rule. As prerequisite, please familiarize with this process first before applying to your strategy. As usual, this MUST be used with continuing notes posted throughout duration of this forecast to supplement but NOT REPLACE your trading discipline and risk management. If the limits of the update feature or update frequency do not satisfy your risk profile, then THIS IS NOT FOR YOU. As always, when price action disagrees with forecast meaningfully to you, IMMEDIATELY SCRAP THE FORECAST and trade defensively. If it is not obvious to you what meaningfully means in this context, then I repeat for a third and final time, THIS IS NOT FOR YOU.