Last update I had stated that there would be 2 alternates either it subdivides or consolidates, subdivision did not happen and instead go the consolidation from 12937.
There is an AB=CD pattern in progress and nearing completion as follows:
12937-12850-12909= ABC, THEREFORE CD= 12820(100%)/12800(127%)/12767(162%)
And 12800=50%/12767=62% (12662-12937), once this...
GOLD IS IN THE D LEG OF COMPLETION OF A CYPHER AT 786 = 1330, IF CYPHER COMPLETION AT 1330 THEN 1295-1270 T1/T2 PRICE TARGETS.
HOWEVER IF IT DOES EXCEED 1330-1350 THEN HIGHER PRICE ZONE ABOVE 1357=1375.
BREAKOUT ABOVE 1357-1375:
Happy New year and a prosperous 2018 to all.
Gold has been a tough nugget so far for 2017 and has held 1240-1220 price zone.
Where does gold go from here... So far from the 1046 low as follows:
A=1046,B=1375,C=1122, THEREFORE D= 1455(100%)/1545(127%) & 1661(162%) all these are possible price zones where AB=CD.
FROM 1122(B), There is the potential of...
2 PATTERNS IN FORMATION:
BLUE IS A BAT, BREAK BELOW 8750 WILL TARGET 8400(886)
WHERE AB=CD (100%) BREAK BELOW 8300 THEN WILL INVALIDATE BAT PATTERN.
GREEN = BAT
XA=9300-8750, AB= 8750-9030, CD=9030-?(8800), BREAK BELOW 8750 THEN BLUE BAT WILL BE VALID.
IF GREEN BAT THEN ONCE C IS COMPLETED
GBPUSD HAS TAGGED 1ST RESISTANCE ZONE 13235-13265 WHICH IS ALSO PROBABLY THE B LEG AND NOW IN THE C LEG.
XA= 13657-13028, AB=13028-13262, BC= 13262-UPTO 13050, BREAK BELOW 13028 THEN C LEG WILL BE INVALID.
13028-13262 SUPPORT ZONE:
BELOW 13028= 12775
GOLD REVERSED FROM 1261 WHICH WAS THE LOWER SIDE OF PROJECTED PRICE ZONE 1300-1260.
BELOW 1295 CONSOLIDATION STILL PROBABLE AND RETEST OF 1270-1260.
BREAK BELOW 1261 = 1250-1235/1225-1200, BELOW 1225-1200= 1175-1122.
BREAK ABOVE 1295-1300 RESISTANCE ZONES= 1310-1325/1335-1350, BREAK ABOVE 1350= 1375-1425.
GBPUSD from 12775-13657 has probably completed the consolidation at 13028 which is about 618.
Break above 13300-13365= 13473-13522.
Consolidation between 13028-13300, break below 13028= 12775.
EURUSD retested 11663 zone where it reversed from 11669 on Friday.
Price breached resistance at 11750-11710 and back up above this zone,upside resistance:
Break above 11800-11830= 11850-11870 or upto 11900-11940 zone.
Below 11800-11830 then lower support zones:
11750-11710, break below 11660= 11610-11560.
EURUSD has been going through all the resistance zones and is currently at the previously mentioned upper zone of 11895-12105/10
Is Euro defying gravity and keeps on going like a duracell battery until it runs out!!!
From the 13993 high to 10340 it is nearing the 50% level 12167...
Today high @ 12092 could be done or still going to tag 12167 & consolidate or next...
Yesterday I had mentioned that there was a Bat Pattern that was in progress and there was also
an AB=CD in the making... when one looks at the various fib ratios and see a probable pattern
the expectation would be that it has to complete at the D point but it fails to get to D or exceeds the D point.
In this example as one can see there was a cypher that...
GBPUSD has completed a CYPHER at 12978 and now is potentially in the cd leg of a BAT
where D=12790 @886, however if it breaks below 12775 then it could be an ALT BAT @ 12745 (113).
There is also an AB=CD which looks complete however cannot rule out the 12790 for a bat completion.
Breakout above 12978-13030 will target 13058-13120 or 13160-13184.
Break down below...
GBPUSD has followed script to the T, now that upside is completed at 13266 and it has dropped to 13100-13120, expect a consolidation then move lower to 13075-13045.
Downside price support = 12800-12600 for completion, however it could change depended on structure formation.
SEE PREVIOUS LINK, GBPUSD has been in a consolidation zone for about 4 weeks it is nearing its 1 st price zone= 13200-13350 and this could potentially complete the D leg,
however there are other price zones higher above where the D leg could complete(see link).
At the moment it is nearing a consolidation/reversal zone, should it correct then the downside will...
USDJPY tagged the minimum price zone between 112.10-112.40 @112.46.
Price consolidation, break below 111.50 then price zone 111.33-110.80
Break below 111.00 will be a complex correction with price zone= 110.40-110.10, however this is not active as yet.
GBPNZD exceeded price expectation and into the upper price zone 17600-17620 @ 17660.
The impluse from 17330's to 17660's there will be a consolidation
Early to say whether it will be short/sharp or complex/long
Consolidation price zone: 17540-17460 or lower above 17330.
Below 17330 will validate lower price zones, however not necessary for the time.
NZD has tagged 7296 potentially completing the Cypher pattern. and in the short term its on the downside
Price has already retraced 382 of the 7206-7296= 7262 and could get to 618= 7240 as it is still within the larger triangle/channel from 7319-7185.
Breakout above 7300 will target 7336-7355/ 7400-7425.
Breakdown below 7206-7185 will validate BAT/CRAB to the downside.
Oil has tagged the 113% @42.60 alt bat on the 4 hour.
There are 2 option here:
1. consolidate and continue lower for the daily bat @ 886 = 41.00, break below 39.12 will target 37.05/34.80/29.17.
2. reverse from 42.60 for at least 382/618 consolidation.