Mar 2019: Gold bearish setup

Mar 6, 2019

Following the bearish monthly view, this is my updated count:

For now, going long for corrective moves is quite safe.

For short plan: Wave 5 of 1 is done with all calculations fulfilled. The ideal area to short is as per yellow box due to the previous downswing, however anything above 1302 is technically a selling zone. Stops go above 1347 swing high as per standard EW strat.

Mar 7, 2019

Note

New low 1280.xx is considered 1281. 1347 - 1281 = 66 so bulls still have a shot. I'd scalp for longs off a corrective move, usually C wave rather than A wave.

Mar 11, 2019

Note

The 1300/02 wicks managed to make an effect on 4H chart so I'm trading this as bear's 4th wave or bull's 3-wave A or W. These 2 counts gives higher odds favouring downtrend. Smaller positions and targets are as attached.

In the mean time looking out for bulls between 1289 and irregular flat A at 1280 fake break.

Mar 11, 2019

Note

Nevermind bulls. I just noticed the target dates I put up in my previous post "Potential Triangle on Monthly".

Bears could hit this down to 1215-1225 area within this swing to fit the momentum to target date which is only 3 weeks from now.

Mar 19, 2019

Note

Update:

This is the path I'm trading now right now.



I don't know where the end points are for circle X and Y. E.g. Circle X could easily be irregular flat so will need calculations once they materialise.

Mar 21, 2019

Trade active

Building long term shorts now: