As it turned out, the Diagonal on Gold was part of wave 3 of 5. The drop we saw was wave 4.

Zooming out a little more, if Wave C drops to 100% of Wave A, and ends at around the 61.8% of the Wave 1 impulse, then we should expect a Wave 3 impulse to the upside beginning soon.

Zooming out a bit, my wave count has that last drop as part of Wave C, as price has now broken below the previous Low. If the overall bias is still Bullish, this would point to us coming to the end of a Wave 2 correction. We could then expect that ...

As for SPX, not only has it dropped more this morning, but also gapped down. Likely due to the import tariffs implemented by Trump. Needless to say, the Profit Target was hit.

As expected, Gold has continued to drop. I didn't get to my computer quick enough this morning to adjust the Entry & SL, as I was dropping my son to school, lol. But so far so good.

As I cannot write code, I cannot even recognize if what I've posted is actual code or not! I don't know which is less intelligent, AI or me ! However, I do acknowledge that writing code according to ...

Gold is setting up for a SHORT trade, breaking out of a Contracting Ending Diagonal pattern. Checkout my post here.

Hi. I found this thread after starting one dedicated to Ending Contracting Diagonal patterns. Gold appears to be setting up for a significant drop. Checkout my post here.

Here's one on SPX that played out on Friday. Price over-shot the top trendline before breaking out lower, then halted just before the bottom of wave 2 (the profit target), so waiting to see if it drops more on Monday.

So, here's a live example of Gold setting up for a breakout to the downside from an Ending Contracting Diagonal. Gold has had a significant bull rally for the whole of January 2025. It is in Wave 5, and within Wave 5 an Ending Contracting Diagonal ...

To add some visuals:

...and also happens to be the 38.2 fib level.

FS: EURUSD -86 GBPUSD +89 USDJPY -19 GBPJPY +196 Weekly Total: +180 Feb Total: +180 ONS: EURUSD -54 GBPUSD -121 USDJPY no trade GBPJPY -91 USDCHF no trade Weekly Total: -266 Feb Total: -266 Feb Grand Total: -86 Jan: +1090 2022 Total: +435 Dec: -407 ...

FS: EURUSD no trade GBPUSD -63 USDJPY -123 GBPJPY -92 Weekly Total: -278 Jan Total: +1099 ONS: no trades Jan Total: -9 Jan Grand Total: +1090 2022 Total: +435 Dec: -407 Nov: +842

FS: EURUSD no trade GBPUSD -23 USDJPY +178 GBPJPY +269 Weekly Total: +424 Jan Total: +1377 ONS: EURUSD +17 GBPUSD -22 USDJPY no trade GBPJPY no trade USDCHF no trade Weekly Total: -5 Jan Total: -9 Jan Grand Total: +1368 2022 Total: +435 Dec: -407 ...

FS: EURUSD +62 GBPUSD no trade USDJPY +60 (traded both sides) GBPJPY +111 Weekly Total: +233 Jan Total: +953 ONS: EURUSD -13 GBPUSD no trade USDJPY +101 GBPJPY no trade USDCHF no trade Weekly Total: +88 Jan Total: -4 Jan Grand Total: +949 2022 ...

FS: EURUSD +54 GBPUSD +94 USDJPY +179 GBPJPY +160 Weekly Total: +487 Jan Total: +487 ONS: EURUSD no trade GBPUSD -92 USDJPY no trade GBPJPY no trade USDCHF no trade Weekly Total: -92 Jan Total: -92 Jan Grand Total: +395 2022 Total: +435 Dec: -407 ...

FS: EURUSD no trade GBPUSD no trade USDJPY -122 GBPJPY -181 Weekly Total: -303 Dec Total: -175 ONS: no trades Dec Total: -232 2022 Total: +435 Dec: -407 Nov: +842

FS: EURUSD no trade GBPUSD +16 USDJPY +191 GBPJPY +266 Weekly Total: +473 Dec Total: +128 ONS: no trades Dec Total: -232 Dec Grand Total: -104 Nov: +842