XAUUSD short term retrace before more drop: Gold wave 3 watch

Quick short term plot to evaluate the retrace from drop, tying to get the BIG drop down.

The first push down was a perfect 12345, to make wave 1 in theory.
Now looking for an ABC to make wave 2 back up.
Then trying to catch wave 3 down for what might be a big drop.

It is actually possible that wave 2 is done already and wave 3 is starting, which would be proven by making a new lower low.

This is an update to my bigger picture trade idea posted earlier:

評論:

Here we are. Will it bounce? or did I miss the short?

評論:

Pierced my support a bit, but got a slight bounce at London Open. Lets see if it forms a wave C or not, which in theory should be sub set of 5 waves

評論:

Bounce still alive

評論:

The moment of truth is here

評論:

Looking good for my short thus far

評論:

so much for that plan.

I did get a short in at the dip shown in last pic. But trailing stop got hit with minor profit. Now back to the drawing board.