GOLD (XAU): EW, the cycle might be done (forget 2k for a while).

Well, referring at my last idea in which we are into an E leg before the last wave 5 in the bull run (related in the follow), I think that it might be wrong.

In fact, analyzing the entire cycle of gold, I think that it is done and there arent anymore waves 5 to complete, cause the 5th has been completed at 2076 $.

So, in this idea I would suggest the possibility of a Leading Diagonal (as wave A or Wave1) formed beetwen 2076 and 1676.

This could be means that we are just started the formation of a sub-wave A (composed by an impulsive 12345) inside a bigger C wave that potentially can goes to $ 1520 | 1412 | 1275 as main targets.

Anything beyond that 1275 would means that we arent into a C wave but in a new bear cycle heading probably around 500$ price area.

So, the next potentially big short area would be beetween 1795 and 1845 (watching closely at 1817) for the formation of B or 2nd wave inside this count.

I will post screenshots in the comments of the idea.

ノート

ノート

Typo error into description: "next potentially big short area would be beetween 1795 and 1845*..."

not 1845 but: 1875

ノート

the red rectangle into the drawing is correct btw

ノート

be carefull, this might be possibile, i really dont understand the main count (would be for real the E leg like in my previous idea linked below?)

ノート

s3.tradingview.com/snapshots/a/a7riMEF3.png

ノート

mid terms possibile paths:

ノート

Btw the inner count shows this to me:

ノート

What i can potentially count atm

ノート

Alternate count:

ノート

If this is a 5 3 5 i think we are in wave 2:

otherwise the move up might be finished and means this was an X (or B) wave, but trying to find a valid inner count, the only that seems had a sense would be this (535).

ノート

This is a possibile alternative scenario (bear); if 1819 will breaks probably we will stay into an A down: