6 - Crash Sequence & Brexit Volatility vs Wave Patterns
The sustained and impulsive decline from February 2018 and down until August 2018 lows has been labeled as a complex Double Three in the Primary W (turquoise) degree.
In mid-August XAU/USD reacted with a bullish swing, and this move has been labeled as Intermediate (A) (light blue) within the larger degree Primary X (turquoise). Following that bounce-off, the sideways correction has been labeled as Intermediate (B) (light blue).
XAU/USD continued to rise afterwards, reflecting a Bullish Impulse within a rising Channel in Intermediate (C) (light blue).
Intermediate (C) (light blue) would be expected to continue and then to finalize the bullish sequence after a sideways corrective pattern. Should the sideways correction unfold, then the lower trend-line of the Ascending Channel would most likely be watched closely.
If the XAU/USD would manage to gain support on the above-mentioned trend-line, then the 5th wave for the up-side could aspire for the 78.6% Fibonacci Retracements of Primary W (turquoise), where the 261.8% Fibonacci Extensions of Intermediates (A) & (B) (light blue) also seem to be aligning.
The previously breached trend-line (dotted-red), could be retested repeatedly before a major change, and a rejection could occur after the bullish sequence would complete for Primary X (turquoise).
Gold would be closely watched by investors in the sessions to come, as it is approaching several significant resistances, such as the 1304.00 and/or 1320.00 levels.
A rejection at or near the significant trend-line could unfold as a bearish impulse towards new yearly lows, and the 1115.00 levels could be seen as turning points, should the Flat Pattern become a reality for Super-Cycle Wave (b) (black).
In mid-August XAU/USD reacted with a bullish swing, and this move has been labeled as Intermediate (A) (light blue) within the larger degree Primary X (turquoise). Following that bounce-off, the sideways correction has been labeled as Intermediate (B) (light blue).
XAU/USD continued to rise afterwards, reflecting a Bullish Impulse within a rising Channel in Intermediate (C) (light blue).
Intermediate (C) (light blue) would be expected to continue and then to finalize the bullish sequence after a sideways corrective pattern. Should the sideways correction unfold, then the lower trend-line of the Ascending Channel would most likely be watched closely.
If the XAU/USD would manage to gain support on the above-mentioned trend-line, then the 5th wave for the up-side could aspire for the 78.6% Fibonacci Retracements of Primary W (turquoise), where the 261.8% Fibonacci Extensions of Intermediates (A) & (B) (light blue) also seem to be aligning.
The previously breached trend-line (dotted-red), could be retested repeatedly before a major change, and a rejection could occur after the bullish sequence would complete for Primary X (turquoise).
Gold would be closely watched by investors in the sessions to come, as it is approaching several significant resistances, such as the 1304.00 and/or 1320.00 levels.
A rejection at or near the significant trend-line could unfold as a bearish impulse towards new yearly lows, and the 1115.00 levels could be seen as turning points, should the Flat Pattern become a reality for Super-Cycle Wave (b) (black).
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.