GOLD (XAUUSD): POTENTIAL LAST LEG DOWN

Dec 7, 2020

1871 - 1879 might be the death line.

Looking for ABC (5-3-5) completition at 0,618% extension of A-B; if this will fails next stop could be at 1901.

Targets: 1800 and 1740/1725 area.

Dec 7, 2020

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Closer view:

Dec 7, 2020

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This is the main idea:

Dec 8, 2020

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this might be a possibile bull scenario in case the (C) is not yet completed:

Dec 8, 2020

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The two possibile scenarios: 1840-38 level to watch:

Dec 8, 2020

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updates: this could be the preferred count
new levels to watch for shorts are: 1888, 1901, 1906

Dec 9, 2020

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updates:
like i posted this yesterday we may stay inside a wave 2 of 5 up inside the bigger (C), if this is not completed yet.
Otherwise a break below 1838 would be the continuation down

Dec 10, 2020

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So, we are below 1838 and it looks like is making a first series of 5 down in smaller tf. If this is a wave 1 in the upper count, the final targets will be huge in the downside. Lets see what will happens now:

Dec 10, 2020

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preferred count at the moment:

Dec 11, 2020

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Ok guys, if this is the wave 1, this might be the scenario:

Dec 11, 2020

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So, if 1850 will not breaks before of 1800, i think the sequence might be: 1798, 1855, 167xx

Dec 14, 2020

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Dec 15, 2020

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this is a possibile count:

Dec 22, 2020

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Dec 31, 2020

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So, after days i'm still watching closely this move up that i think is a corrective and not impulsive. So this might be a valid double 3 waves up in conjunction with a bearish BAT Pattern. So, if the price will break the upper TL of the big triangle (the blu line) at 1905, the arrows would be the points of the potential reverse:

Jan 6, 2021

Trade closed manually

This idea continues here: