Looking bearish 45-47 is key break above could be bullish key area. Looking like a wave abc touching 50%. 224o is target above 47 is invalid.
wanted to share inner count only way i can get this to fit. And would give a target of 2700 for now. Certainly the 2500 many targetting at 1.618 isnt going to happen. Given inner count
Bullish count. possible ascending diagonal wave 4 shallow 24% retrace a break out would give targets of 2676 and 2825 extension 1.618 of wave 1. Wave 5 of wave 5 target would be 2800 and 3031 2936 been 1.618 of wave 1 and 3. Invalidation level 2120.
bulls scenario is causing some problems as inner cycle wave 3 has ended at short of 1.37. All is not lost though 5th wave may extend to cover. Either way forget higher for now 2260-70 most likely but never know 24% if you v bullish. I don't support this count but this the bullish scenario
inner count cycle complete wave 4 of higher degree 38% target of 2270
bullish count update wave 3 of wave 3 complete we have 30% retrace that could be enough but most likely a longer wave 4 correction is necessary. 38% 2271-60 area before a target of 2250. wave 3 hit target perfectly in this count. Note below 2218 bullish count is invalidated. Updated defined targets and timing. at 30% this could be a short shallow retrace that...
bullish count update wave 3 of wave 3 complete we have 30% retrace that could be enough but most likely a longer wave 4 correction is necessary. 38% 2271-60 area before a target of 2658. wave 3 hit target perfectly in this count. Note below 2218 bullish count is invalidated
update on previous idea with fib targets. Now we have ended wave 3 many still targeting 2500 at 1.618 as normal wave 3. But in this case 1.27% is often correct which was 2309 which is significant be seen on weekly monthly. Blues is next bull target after retracing 1.618 most likely. Red yellow is retrace targets 78% most likely 1956 need to travel into wave 1...
we are in wave c of wave 3 which withing is wave 5 possible completion of wave 3 that could see 2260. although 24% shallow retraces have been common within wave 3 2368 is that level before wave 5 of wave 5 of wave c completes likely at 2409 area. However can push 2440. Higher for gold still to come within this cycle.
The update on the bullish count is most likely still 2282 then targets of 2500. Even in this scenario, a correction will likely 38% 2230 area to be determined
clearer targets we are at 24% and within the channel of wave 3. Wave of this cycle maybe finished which can see 38% before 2409. If gold wants to stay in this channel this is level need to bounce from. Below channel 2282 is likely
gold could still want 2400 2409 area which is 1.27% another wave 5 within cycle count invalid below 2260 ish 50%
possible ending here meaning has to terminate below 2386. Although 1.27 at 2409 is still v possible on or near 1.27 extension
Fib targets as per expanding ending diag. And 3k is possible. First we are in wave 3 1.27 extension possible although it is above 110% and has many confluences but possible. Blue marked 1.27. Retrace yellow 62 to 78% has to travel into wave 1. And finally red target for wave 5 which is often most powerful up to 1.618% projection
wave 5 of wave x of wave 3 expanding diagonal 1.618 2365 2338 100% of 1 confluence at 2337 depending resistance it bounces at. At tl line and significant tl confluence at 2337 qould expect to see a wick on tl on higher tf
gold now hit major tl good chance of rejection near looking for that retrace going 62% 78% 1990-40 area hard to predict yet 1980 most likely. With all time high target of 2600. Expanding ending diagonal as wave 3 is extending past wave 1. This is bearish scenario update. Bull is now looking more probable though.
Bullish scenario that can push for 2420 with a already bearish scenario shared. This is the alternative and gives the targets of 3k. diagonal has gone over 110% and this often fib target for wave 3 of a diag not to rule our 1.27 making hard to predict wave 5 but we see 2250 seems to be an important area. below 2140 this count is invalidated
Some possible targets and bullish scenario 28 significant resistance. Which lends support to higher gold we will see