GOLD (XAUUSD) - EW possibile counts
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This is the last projection of the possibilities that i can see right now.
I drawed 2 different paths that are depending on what the first big move down (from 1916 to 1764) was:
1 > The blu path: would be the C inside the wave 2, if the big move down was a wave 1 and counting it as 12345. In that case we should see a sharp straight move up from 1782 / 76 area to 1870 - 1900 area (that would be also a formation of an harmonic BAT pattern). In that case the consequent downward movement would be really cool and deep (like 1200 area).
2 > The black path: would be a wave B (considering the previous big downward leg as wave 3,3,5 wave A). That wave B could be composed of a mid term raging moves (ABCDE) before the next C down. In this second case the consequent downward movement would be around 1620 - 1560 area.
However, considering the inner counts i would say that the second possibility is more probable than the first, but lets see what will happens.
In every cases i still think that upwards moves are corrective and anticipate e new fall down cause we havent bottomed yet.
I drawed 2 different paths that are depending on what the first big move down (from 1916 to 1764) was:
1 > The blu path: would be the C inside the wave 2, if the big move down was a wave 1 and counting it as 12345. In that case we should see a sharp straight move up from 1782 / 76 area to 1870 - 1900 area (that would be also a formation of an harmonic BAT pattern). In that case the consequent downward movement would be really cool and deep (like 1200 area).
2 > The black path: would be a wave B (considering the previous big downward leg as wave 3,3,5 wave A). That wave B could be composed of a mid term raging moves (ABCDE) before the next C down. In this second case the consequent downward movement would be around 1620 - 1560 area.
However, considering the inner counts i would say that the second possibility is more probable than the first, but lets see what will happens.
In every cases i still think that upwards moves are corrective and anticipate e new fall down cause we havent bottomed yet.
Note
The previous leg down labeled as 3,3,5 ABC (wave A): or like an impulsive wave 1:
Ordre annulé
This idea is no more valid.
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