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  • #57,661
  • Dec 27, 2024 9:38am Dec 27, 2024 9:38am
Price only test the lower band of the Gap. Low of last week seems possible.
Its Will BE more fight on this range. Monthly close is crucial.
Have all a Nice weekend...
  • #57,662
  • Dec 27, 2024 9:42am Dec 27, 2024 9:42am
Everything is proceeding according to plan. The opening fluctuation today provides a useful indication for understanding the price action. Let's continue moving with the flow.
SURFER
  • #57,663
  • Dec 27, 2024 9:42am Dec 27, 2024 9:42am
Quoting BiteFX
Me looking at on going serious whopping...
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  • #57,664
  • Dec 27, 2024 10:01am Dec 27, 2024 10:01am
Hello everyone,
I’m relatively new to Elliott Wave analysis and have been dedicating my time to learning and applying it to the markets. I’ve been working on a specific analysis for Gold (XAUUSD), which I’d like to share and get feedback on from more experienced traders.
Current Analysis:

  1. Gold appears to be in an overarching Wave 4, forming a zigzag pattern.
  2. Wave B is complete, and we are currently in Wave C, specifically in the final Wave 5.
  3. Key target levels based on Fibonacci retracements:

    1. 23.6% level: $2,554.94
    2. 38.2% level: $2,485.00

I suspect we are in Wave 1 of Wave 5, and a pullback to the 61.8% retracement could occur before continuing downward. If the price surpasses the $2,651.13 mark, I’ll need to reconsider my wave count and adjust my analysis accordingly.
Request for Feedback:
I’d highly appreciate your expert opinions on this setup:

  1. Are there areas in my analysis that could be refined or improved?
  2. How do you approach cases where Wave 1 or Wave 5 proportionally deviates from expectations?

Thank you in advance for taking the time to share your thoughts. I'm looking forward to learning from your insights and growing in this field.

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  • #57,665
  • Dec 27, 2024 10:03am Dec 27, 2024 10:03am
_____________ oK , back to work to pay da Bills
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Stay Under my dealer's RADAR
  • #57,666
  • Dec 27, 2024 10:09am Dec 27, 2024 10:09am
Quoting Mosese
{quote} {image}
@Moses, the red sea has to be parted for Israelites to walk through.
Learn... Work Hard... Trade Alone
  • #57,667
  • Dec 27, 2024 10:24am Dec 27, 2024 10:24am
Quoting Kayracty
Hello everyone, I’m relatively new to Elliott Wave analysis and have been dedicating my time to learning and applying it to the markets. I’ve been working on a specific analysis for Gold (XAUUSD), which I’d like to share and get feedback on from more experienced traders. Current Analysis: Gold appears to be in an overarching Wave 4, forming a zigzag pattern. Wave B is complete, and we are currently in Wave C, specifically in the final Wave 5. Key target levels based on Fibonacci retracements: 23.6% level: $2,554.94 38.2% level: $2,485.00 I suspect...
Market is indeed waiting for a significant reversal which could be happening at the start of the year. Still, fundamentals support the strengthening of gold, but beforehands, a liquidity grab is highly needed. levels as 2540 and 2480, are not impossible.

End of January is interesting time, since Trump steps into White House, and on 30-31 Jan is FED’s next interest rate meeting. If they cut rates (likely), gold could start surging.

IMO, if a liquidity grab to lower levels happens before the end of Jan, and FED rates cut. All longs brother
  • #57,668
  • Dec 27, 2024 10:48am Dec 27, 2024 10:48am
Quoting BiteFX
{quote} @Moses, the red sea has to be parted for Israelites to walk through.
to day must follow the candles it's hart
  • #57,669
  • Dec 27, 2024 10:52am Dec 27, 2024 10:52am
Quoting ElCampeador
{quote} Going up
2623 & back to lows 2614. Eventually up
The warrior of good
  • #57,670
  • Dec 27, 2024 11:27am Dec 27, 2024 11:27am
Untill we don't close in 4H above 2624.120 we are bearish.
Monday look for sweep of a bearish candle in 4H, if price close above 2624.120 setup canceled and we look for bullish.
I hope it help.
  • #57,671
  • Dec 27, 2024 11:39am Dec 27, 2024 11:39am
Quoting Kayracty
Hello everyone, I’m relatively new to Elliott Wave analysis and have been dedicating my time to learning and applying it to the markets. I’ve been working on a specific analysis for Gold (XAUUSD), which I’d like to share and get feedback on from more experienced traders. Current Analysis: Gold appears to be in an overarching Wave 4, forming a zigzag pattern. Wave B is complete, and we are currently in Wave C, specifically in the final Wave 5. Key target levels based on Fibonacci retracements: 23.6% level: $2,554.94 38.2% level: $2,485.00 I suspect...
Good trade! Hope you will keep post your analysis.

If the price stays above 2600, I think it's still bullish. But, I think gold might drop to the 2590-2600 manipulation zone before deciding where to go next. It's been moving in a range for the past week or two. If it falls below 2590 strongly, it could turn bearish.

Short Entry: $2,630 - $2,636 (retest of resistance zone).
Long Entry: $2,580 - $2,590 (if price action confirms support holding)
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  • #57,672
  • Dec 27, 2024 11:53am Dec 27, 2024 11:53am
Quoting Tintin2014
{quote} Good trade! Hope you will keep post your analysis. If the price stays above 2600, I think it's still bullish. But, I think gold might drop to the 2590-2600 manipulation zone before deciding where to go next. It's been moving in a range for the past week or two. If it falls below 2590 strongly, it could turn bearish. Short Entry: $2,630 - $2,636 (retest of resistance zone). Long Entry: $2,580 - $2,590 (if price action confirms support holding) {image}
Good analysis. I considero short at 2642. Your long is same as mine.
The warrior of good
  • #57,673
  • Dec 27, 2024 11:55am Dec 27, 2024 11:55am
Quoting ElCampeador
{quote} Good analysis. I considero short at 2642. Your long is same as mine.
Eventually, almost 2700
The warrior of good
  • #57,674
  • Dec 27, 2024 12:02pm Dec 27, 2024 12:02pm
Now that we are ending the day, squeeze bitcoin in. Trading at 94.000, the leg will take it to 106.000
The warrior of good
  • #57,675
  • Dec 27, 2024 12:23pm Dec 27, 2024 12:23pm
Quoting PatienceFx
january 25 the pied piper of washing town sits in his chair and his mission is strong usd so gold may fall
Significant date, si señor. It will have corrected from a ATH. If correction is mild, expect mega-rally. Cheers
The warrior of good
  • #57,676
  • Dec 27, 2024 12:32pm Dec 27, 2024 12:32pm
Quoting noobtrader8
{quote} I appreciate your analysis. As a long term gold holder, is your range of 3002-3040 based on technicals and historical % price action? As a I also think that fundamentals support your long term vision.
Yes, the ranges are based on historical levels, initially drawn—or, let’s say, tracked—when gold was trading at $550 an ounce, as noted in my article. The parabolic movements in gold’s price were monitored from the time it reached $1,614, as shown in the charts. These ranges were established on the specified dates and reflect what I was observing back in 2022.
You might also find this link interesting: https://thepraetorion.blogspot.com/, a blog I authored in 2010. It was written out of my dislike for herd mentality. Back when gold was trading at $550, I advised people to buy, but many dismissed it as FUD. Ironically, there was a sudden influx of interest when gold approached its peak. The same advice was reiterated in 2015. I am not an economist, financial expert, or anything of that sort. Rather i am a IT Security Advisor My observations are purely based on my personal analysis and perspectives. Fast forward to today, we are in a corrective phase. Looking ahead, I anticipate significant market movements starting in the first week of January 2025, though only time will tell how events unfold.
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Candlesticks dont move markets, Volume does
  • #57,677
  • Dec 27, 2024 1:01pm Dec 27, 2024 1:01pm
Quoting ElCampeador
Now that we are ending the day, squeeze bitcoin in. Trading at 94.000, the leg will take it to 106.000
thats your BTC ..
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Candlesticks dont move markets, Volume does
  • #57,678
  • Dec 27, 2024 1:22pm Dec 27, 2024 1:22pm
Quoting vankiepsauff
{quote} I can lose 9 times, but only win once, specifically this trade.
This gold nugget tip from vankiepsauff is greater than any chart or any technical analysis ... it took me a many years to realize this.
  • #57,679
  • Dec 27, 2024 1:39pm Dec 27, 2024 1:39pm
Oh! At last. Bullish continuation day signal.
Took ya so much time chicken head.
Learn... Work Hard... Trade Alone
  • #57,680
  • Dec 27, 2024 1:56pm Dec 27, 2024 1:56pm
Quoting BiteFX
Oh! At last. Bullish continuation day signal. Took ya so much time chicken head.
Thats called santa rally .. look again .. your Trading Below todays DO, breached Yesterdays DO, and Mondays DO
Candlesticks dont move markets, Volume does
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