Gold Daily Chart Waves Analysis

Price is in form of correction phase ABC after completing 12345

This correction is in Zig-Zag Pattern, neither Flat or Triangle.

Conditions of Zig-Zag Pattern:

1. "A" must have 12345 waves inside of it.

2. "B" must not retrace more than 61.80%

3. "C" should reach the Extension of 161.80% and even if it reach the 100% extension then we can find A=C

So far above 1st and 2nd condition is done.

Comment:

Price is forming the "A" of ABC zigzag correction in 30 minutes chart.

The conditions are:

1. Price should reach at 1894 zone where "A" will be finished
2. "B" should not retrace more than 61.80% (1916 zone)

These are all probabilities ... Once A and B is formed according the wave theory then I will give update on wave C.

Lets wait and follow me for further updates.

Comment:

Its all good so far

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How things are going.

Comment:

Another Zig Zag pattern is forming on 15 minutes time frame.

Conditions:

1. "A" must have 12345 waves inside of it
2. "B" should not retrace more than 61.80% (1896.475)
3. If A and B correct then C must be either in 161.80% (1865.790) or 100% (1877.180) which will make A=C

It sounds very complicated but for last few days price is following this pattern simultaneously.

Comment:

Comment:

Everything seems perfect so far ....

A and B is formed and C is going to.

Comment:

In 5 minutes chart price is making the Double Combo WXY both zigzag and flat correction.

Who knows it can be a triple combo in future .....

There is no point of buying gold now.

Comment:

In 4 hours time frame price is in at extension wave

Rules: Minimum 1 move or maximum 21 moves

So far price has made 17 moves.

According to wave extension theory, price should be at 1865 zone while finishing it 21 moves then a retrace of 4th wave but not more than 50%

Comment:

Seems like extension is over at 18 moves on 1884.xxx and the flat correction as well.

4th wave may start from here and the wave should not retrace more than 50% (1936)

I am expecting a top of 1915 then further fall.

Comment:

Expecting 1915 Top tomorrow.

Comment:

Price should make 1915 after NY Session opens

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Is 1904.xxx top of 4th wave?

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I am still confident about 1915 top +/-

Comment:

XAUUSD sell from 1910-1915 is my obvious choice

Comment:

1920 Top of 4th wave?

Minimum 5th wave floor 1875???

Comment:

This projection will happen if 1920 is the top

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1922.xxx top or price will make another high?

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How price should react ...

Comment:

1922 is the top confirmed.

Enjoy the 5th wave towards 1870

Comment:

Gold will be bullish till the next rate hike.

Possible Target: 1860/1880/1930

Comment:

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