GoldDiggin

GoldDiggin

In this wave 2 correction, we identified a WXY correction W is a 3-3-5 flat pattern Y is a 5-3-5 zigzag pattern We are currently in the final 5 wave of the zigzag pattern (wave Y) In a shorter term, it might correct to wave 2 (61.8% level) then resume downward momentum

GoldDiggin

Currently in Wave 3 grand Supercycle Wave 2 Supercycle In coming months, more downside

GoldDiggin

As posted in previous analysis, we have reached the ideal level which is 1.236% of wave A. In my latest education about diagonal, the rule stated that the last wave of the diagonal CAN be shorter than the 3rd wave (wave C). However it is still possible for some more downside which I don't give a high probability. A further extension can be 1760 which is previous...

GoldDiggin

Can you spot this beautiful pattern from gold recent weeks movement? Follow us and get the latest update about this pattern later in the day!

GoldDiggin Updated 

Gold has been in a triple three correction WXYXZ wave since August 2020 and it is now near to the last minor correction. The last major correction wave Z seems to be a zigzag correction that suggest it should be unfolded in 5-3-5 wave. I highly believe that we are currently in the final 5 minor wave correction of the zigzag which is also an ending diagonal. If...

GoldDiggin

Here you find some guidelines for entry and initial protective stops for ending diagonal. We will publish more about how to integrate diagonals in Elliot Waves if we get 50 likes! Hint: Can you spot this pattern in gold now? Check out our ideas if you don't!

GoldDiggin Updated 

Price is currently showing some sign of exhaustion in the resistant zone and that correlates well with the end of the small 5 wave impulse. This might be an indication of the correction to support which is at least 50% Fibonacci level. I expect it to reach first support at 1787 around New York session today.

GoldDiggin Updated 

I believe gold has just completed a small 5 wave impulse as we wished for in the previous analysis. I am expecting a pullback to 50% or even 61.8% Fibonacci level (1785 and 1779) to prepare us for higher high. Currently there is still some room for the upside which we think a possible extension to 1816 before this setup happens. There is a higher risk to short...

GoldDiggin Updated 

The wave E of ending diagonal that we anticipated in last analysis was invalidated as price has broken the trend line, we will now look for opportunity to ride this bull run to all time high. There is some room for price to grow to the resistant area (1810-1815), then followed by a breakout retest.

GoldDiggin Updated 

Gold seems to have good rejection at the resistant zone as mentioned in my previous analysis, we will short it to the support at 1752 area, but also beware with the short term support zone drawn in grey rectangle.

GoldDiggin Updated 

As you can see, we are currently forming a possible ending diagonal, we should stay out of gold and observe price action around the resistance zone which is also one of the strong Fibonacci levels (1795-1800). If rejected, we will be able to short the wave E of the ending diagonal. Otherwise, if break and close above the diagonal trend line in 4H, we should...