GOLD Elliott wave forecast for next week

I was bullish on my last post and I am still bullish as I think we are in wave 4 correction and we will have a wave 5.
wave 4 is usually long and boring. do not expect a big jump. i am still not sure what pattern we are gonna have for wave 4
I am not gonna buy this market until I see a strong conformation for end of wave 4

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It seems that we will have a triangle
I think the market will crash after we finish wave E

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if anyone is gonna short gold , this is the setup

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I am short, the stop loss is very tight

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to confirm the big triangle all these levels needs to get broken, so simply we have 3 important levels to get break. I am short and I have moved my stop loss down to avoid loss, the worst case I will break even

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we hit the invalidation level , I closed the trade

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as the triangle is invalidated now I am NOT gonna short this anymore even if it goes down.
I can not confirm the end of the current uptrend until we either break any side of the box.

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it seems that we are gonna have a triangle or flat type of correction probably
We need to wait

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glad I closed the short position yesterday :)
I still think we need one more wave down, I am not buying yet

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Wait for a reversal signal

Trade stängt manuellt