Gold is getting smashed. And I can say that I was right about the big picture when everybody shorted I stayed long.
However, the way the bull trend ended was unexpected. I spent many hours gazing at the chart and trying to count waves on every time frame but I cannot confirm that we are in bearish scenario already. Previous wave up ended in 3/3/3 pattern. Current move down started as 3/3/3. This probably means we are in a big corrective pattern that has not ended yet.
Gold is falling hard according to the big picture but I stay out because there was no triggering count where I could put a trade with a sensible SL.
However, the way the bull trend ended was unexpected. I spent many hours gazing at the chart and trying to count waves on every time frame but I cannot confirm that we are in bearish scenario already. Previous wave up ended in 3/3/3 pattern. Current move down started as 3/3/3. This probably means we are in a big corrective pattern that has not ended yet.
Gold is falling hard according to the big picture but I stay out because there was no triggering count where I could put a trade with a sensible SL.
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🌏 energeiacharta.com
⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
🗃️ Extensive analysis archives
📏 Chartopedia, with examples of applying ElliottWave to real world charts