XAUUSD at/near a top for now? Gold Impulse Redux

Gold is approaching some resistance after the US Holiday weekend.
Just tested the last Impulse down, and faces ending waves upward.
This would be a good place to take profit and wait for resolution.

The plotted EW 12345 is just a guess.
It could well be an ABC that is done?
Or we might see one more push up yet.

"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.

Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.

This is part my ongoing series to collect examples of my Methodology.

.

.

Ordered Chaos

every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.

each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.

every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.

He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.

Ordered Chaos

.

.

.

want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.

評論:

Interesting action around the Impulse Zone thus far

Bulls may have flipped this resistance into support. If so, there should be a new Impulse wave pushing up soon. I am still leaning towards this being an overshoot of the top, but then again gotta go with the clues and right now bulls look to be in charge. Lets see how how Asia and UK react today, now that the US has spoken after Holiday weekend.

.