NeeravYadav

The current progression suggests Impulsive continuation with Wave 5 still having upside remaining and incoming target around 2740.

Though it is unclear if W.4 in Gold is complete or has one more leg down remaining, from a swing perspective the market is suggesting one more up leg with upcoming resistance around 2513.If we see continuation of W.4 then the next support level is at 2847 and sustenance below the same would suggest extreme weakness and the possibility that this market maybe doing something else.

Possible Diagonal formation suggesting further upmove on Gold.Will look to consider longs above 2387, with immediate resistance at 2397.1H : Faster than expected upmove, suggestive that we are seeing a nested Impulse in the upward direction rather than a Diagonal :

Possible counter trend long opportunity for Wave C or 3 to the upside.15m : Precisely as expected :1H : So far so good :

Continuing on from the last post, where Gold fell more than 1.4% after I posted the short setup, here we are once again, in what looks to be another impulse down for possibly Wave C, suggesting that the market can see lows near 1842 and possibly much lower. We can take partial small entry, as the move is already too strong and then waiting for corrective pullback to add more.

On short term basis, expect Gold to see atleast a move below 1891 level at once, with the current Elliott Wave progression being in Wave 4, either complete or continuing.15m : Went down precisely as expected, taking out Wave 3 low and hence achieving the minimum downside target.Book partial profits and trail remaining position.15m : Went down further, trail remaining shorts as the current leg is Wave 5 :15m : More than 1.2% downmove since the original short entry, trail remaining shorts :