jokenakrub7

The extension wave 5 will run to its maximum at 138.2% and most likely end at 100-123.6%. Therefore, wave 3 will move to 2,075.135 to target wave 5, according to the chart.

Gold is doing the expansion wave (V) of ⓒ of 5, alternating with the short wave (III). For the expansion wave 5, it should end around 114.6%, the expansion wave (V) ends between 100-114.6%, which should be consistent with the expansion wave ➄, which should end between 61.8-100%.

Gold may be in the process of wave IV in a Flat or Triangle pattern with an interesting retracement target of 38% as shown in the chart.

Wave ⚪iv retraces shallowly at 23.6% and now the graph is making wave ⚪v with a target fibo extension of 50 - 66.7%. However, if wave ⚪iv does not end, it may make an expanded flat pattern to grab liquidity before making wave ⚪v.

The chart enters the supply zone and hits the resistance and if it goes back down below the red ema line and there is a divergence from Macd, open a short by tp at Choch.

The retracing wave could elongated flat A B C down 50%-60%. Along the way there could be a fake TL at 23.6%, a fake S/R flip at 38.2%, a fake W pattern at 50% before bouncing back.

when wave (1) ends, gold will bounce up again to make wave (2) or make ATH. However, if wave (2) ends, it will find a time to open sell.

The Macd signal in TF 4H is above zero and is still bullish, so it is still waiting for bullish momentum to return along with an input signal from stochatic rsi. However, it could be a pullback to continue down.

Gold ran between the 2012-2064 price range and is currently in an uptrend, so expect a bullish bar to break through the 2040 sub-resistance level and retest down to sweep sub-liquidity before continuing.

At TF 2H the killing zone begins to appear, so wait for the momentum bars to confirm whether it will go up or down. But overall, the graph has broken the trend but there is still selling pressure.