Possible Long Idea about
XAUUSD.
Double correction have been completed on November 29th. (Double Zigzag).
Wave 1 is a leading diagonal. A leading diagonal always include a deep retracement. Which might has been completed at 61,8% of Wave A of Wave 2 (1790$).
From that point, I believe we are going back above 2000$ but I also believe that if it breaks the low of November 29th (1764$), the bear market is not over yet.
Wave 1 took 37 days. I am expecting wave 3 (or C) to be shorter in time than Wave 1 (or A) because leading diagonal are, in my opinion, choppier. So this trade could take around 1 month.
*This is not any trading advice but only my own opinion about the market*
Double correction have been completed on November 29th. (Double Zigzag).
Wave 1 is a leading diagonal. A leading diagonal always include a deep retracement. Which might has been completed at 61,8% of Wave A of Wave 2 (1790$).
From that point, I believe we are going back above 2000$ but I also believe that if it breaks the low of November 29th (1764$), the bear market is not over yet.
Wave 1 took 37 days. I am expecting wave 3 (or C) to be shorter in time than Wave 1 (or A) because leading diagonal are, in my opinion, choppier. So this trade could take around 1 month.
*This is not any trading advice but only my own opinion about the market*
Nota
On this analysis you can see a FLAT and a TRIANGLE. They are the same family so to be a 5 wave movement a FLAT and a TRIANGLE cannot appear in the same sequence and a TRIANGLE cannot be a Wave 2, so it has to be a Wave X.
Wave X with a triangle always appear has the last Wave X of the combination, so basically it cannot be a triple correction.
The only option left is a DOUBLE CORRECTION.
I will update this idea again later.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.