Gold's WolfeWave Pattern

thanks yes that's what i have.

EL would habe been your entry trigger for this abc move?

best
karla

 

Yes Karla.. EL is EntryLevel for the ABC.
It is automatically plotted during ABC pattern build along with Stop (DarkRED Line) and Targets.

Regards,
Suri

 

I'm a little confused here, I understand the wolfe wave pattern (maybe I don't really with this question) but are you long from the EL entry point or short gold?

 

hi inks2002,

The above pattern is ABC Bearish pattern.
In ABC Patterns, trades are made in the direction of AB from 'C' and below suggested Entry Level. In Bearish ABC patterns, it is short trade below 'C'. Here EntryLevel is marked for Short below 936. Currently @ZG at 200-SMA (magenta line) for potential support.

Regards,
Suri

 

thanks for the reply, makes sense now!

 

Here is Gold's Breakout and potential Price/Time Cycle Projections.

Regards,
Suri

 

not that it will fall into oblivion ..

great timing..exactly on the lower fork line.
now it is time for the 100% target

if your ABC tool finds a new candidate, please let us now *g

karla

 

Hi Karla,

Thanks for your post.
Here is Gold's Price/Time Projection chart.

Regards,
Suri

 

Gold ABC Target (1.27 AB): $1067 Chart

Regards,
Suri

 

gold has retested its neckline

on IHS

and resumed its break out