fibonacci5

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Counting Elliott Waves BY THE RULES!
Markets Allocation
40 % forex 60 % other
Top Mentioned Symbols
GOLD 60% | 3 GBPUSD 40% | 2
fibonacci5 fibonacci5 GBPUSD, W,
GBPUSD: GBP/USD long/mid term revised Elliott Wave count.
47 0 3
GBPUSD, W
GBP/USD long/mid term revised Elliott Wave count.

The wave 4 correction looks to continue to extend in GBP/USD, although the wave B down of 4 may not yet be complete a wave C of 4 should take prices just above the wave A high before reversing down to new lows in wave 5.

fibonacci5 fibonacci5 GOLD, W, Long ,
GOLD: Long term GOLD Elliott Wave pattern.
80 0 3
GOLD, W Long
Long term GOLD Elliott Wave pattern.

Why the coming rally in gold is not a wave 3 up to new all time highs... the count from the 2011 high is down in 5 waves, wave 4 is a contracting triangle and wave 5 is an ending diagonal. This 5 down is Wave A of a large Zig Zag. We are currently in wave B which on this chart is shown as a wxy combination it could also be an abc zig zag. Either way prices should ...

fibonacci5 fibonacci5 GOLD, D, Long ,
GOLD: Elliott Wave c of larger degree B underway. BUY GOLD.
61 0 2
GOLD, D Long
Elliott Wave c of larger degree B underway. BUY GOLD.

Impulse wave c of a larger degree wave B which is playing out as an abc zig zag appears to be under way and should take gold to above the wave a high on this chart. Risk/reward ratio of at least 8.

fibonacci5 fibonacci5 GBPUSD, D, Short ,
GBPUSD: GBP/USD in Elliott Wave 5 down to new low.
47 2 2
GBPUSD, D Short
GBP/USD in Elliott Wave 5 down to new low.

GBP?USD descending in impulse wave 5 to new low. The Elliott wave labelling on the chart shows the more bearish scenario of i ii (i) (ii) to the downside based on speculative sentiment index of 70% bulls which as a contrarian indicator would suggest that there is further downside before a significant rally begins.

fibonacci5 fibonacci5 GOLD, W, Long ,
GOLD: Long/mid term Gold Elliot Wave pattern.
55 0 2
GOLD, W Long
Long/mid term Gold Elliot Wave pattern.

Wave A starts at the high in 2011 and completed at the label A at the beginning of 2016. The beginning of wave c of B is imminent signalled by the current extreme negative sentiment to gold and bullish momentum divergences on daily chart. Wave c will be an impulse wave carrying price to above the wave a extreme at 1373.

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