📍 It is already well known that we 'should have exposure to Gold', the conduct of the flows happened very fast and appears to be quite over stretched in the immediate term. The disproportion I mention is not very well-handled in methods where investors seek to park in cash.
The great mobility of Gold is known no more, it's difficult to transport and illiquid in end game strategies. The pullback towards $1,800 and $1675 would make things a lot easier on the battlefront. This is achieved by liquidations in Equities.
We also have the following waterfall event in play for Silver, the alerts will remain in play as we approach the apex, and when we arrive it brings together all this energy and momentum, which needs to eat a hearty breakfast!
On the technical side, consult once more with $1,970 as strong resistance and assembled defence. The only decision we need to make as sellers or contrarians is required above. While to the downside - 1,803 and 1,673 are themselves interesting targets.
Thanks as usual for keeping the feedback coming 👍 or 👎
Irrespective if Gold goes up or down here my friend (everyone has their own opinion so what mine is, is totally irrelevant), however, there are so many things wrong with this EW count with all due respect.
Firstly and most prominently, you have Wave 3 shorter than Wave 1 and Wave 5 which is against EW rules on every front in an impulse 5-3-5-3-5 wave.
Secondly, it is extremely rare to virtually impossible for a Wave 5 to be far longer and superior in terms of peak gains to peak losses in comparison to a Wave 3.
Thirdly, your Wave 3 is hardly an impulse; its basically a WXY consolidation which again, is against EW rules.
Fourth, the current triangle where you have a "B or 2", Wave 2s cannot be triangles.
Fifth, your Wave 4 overlaps your Wave 1 slightly - but Wave 4 cannot overlap Wave 1 at all.
-zSplit
moscarda
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in my opinion wave 4 hasn't to cross wave 1
Saeed966
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thanks for sharing! this is what I see on XAUUSD:
Saeed966
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Nice
ElliotticiansBali
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thankyou verymuch for your explanation, i think right now gold is forming the 3rd wave, making a triangle or an abc correction here is my view on Gold, what do you think? i got plenty of Gold idea, kindly check my profile, thankyou