After the break of WL @1.3253, the target #1 of ABC (in the circle) is 1.3192. Maybe GU gets there next week? Today's drop was impressive.

Coreg's EW+HP+D/W Range

The DXY update.

Coreg's EW+HP+D/W Range

On the daily chart, scenario #2 is on the table.

Coreg's EW+HP+D/W Range

Expect the unexpected so you won't be surprised.GU touched WL @1.3253. The first resistance zone is between 1.3293 and 1.3307. The long-forgotten level @1.3195 came back into play. Friday the 13th, I guess anything can happen. image

Coreg's EW+HP+D/W Range

Whale, the chart will show you what BOJ intends. I remember my guesses about BOJ's intentions in the 90s. Let's say my predictions weren't on the money.

Coreg's EW+HP+D/W Range

ATR (14) range is 154 pips, so gold still has room to go down today. Potential 1-5 pattern in the making.

Coreg's EW+HP+D/W Range

Watch 1.3384-1.3398 bi(a)tch zone. PA is typical for the retracement of BC leg (overlapping swings on the way down)

Coreg's EW+HP+D/W Range

Whale, AB=CD is a continuation pattern. If the last zone, 5140-5133, doesn't hold, gold will go lower.

Coreg's EW+HP+D/W Range

Gold dipped below 5140 on an intraday basis, but the 1-5 pattern will be invalidated if it closes below on the daily chart (R.Miner and my rules). Trading above 5296.13 flips the trend on the 30M chart.

Coreg's EW+HP+D/W Range

Bulls still struggle to reverse the trend on an intraday basis (HH=HL). GU printed yesterday the NR4 bar with a 65 pip range. It's reasonable to expect today's expansion of the range.

Coreg's EW+HP+D/W Range

There was an opportunity for a short trade during the Tokyo session.

Coreg's EW+HP+D/W Range

Whale, I know you want to short. The BC leg should have 5 fractals; it's my first scenario, but the pattern can fail. The most likely area where advances in gold can be stopped is between 5205 and 5220 if it gets there.

Coreg's EW+HP+D/W Range

15M chart with updated PPs. Sorry. image

Coreg's EW+HP+D/W Range

Dollar index wakey, wakey, and doesn't want to cooperate to allow gold to go higher.

Coreg's EW+HP+D/W Range

Whale, as of right now, it doesn't look good even on the 15M chart, but you are right, at least 5196.36 has to break if gold wants to go higher. image

Coreg's EW+HP+D/W Range

Potential one swing up as long as gold stays above the 5140 level

Coreg's EW+HP+D/W Range

It might be tough trading for the bulls for the rest of the week b/c 100%weeklyATR(14) already hit, unless bulls get some boost from an unknown source. Day traders always find setups on the lower TFs. 1.3450 is the level to watch.

Coreg's EW+HP+D/W Range

Bacis, I can't give you advice on how to trade because I know nothing about your trading method, account size, targets, or tolerance for downturns. Besides, I dedicated this thread to present my technical analysis. I'm a pattern trader with tons of ...

Coreg's EW+HP+D/W Range

After some struggle, GU finally hit the 1.3482 minimum target.

Coreg's EW+HP+D/W Range

Gold hit the anticipated resistance zone at YH. Now all eyes are on the 5225 level (the end of the AB=CD pattern)

Coreg's EW+HP+D/W Range