DislikedReally good analysis venzen; I was in the middle of also trying to figure out a count for gold as we continue to push forward. In your white count, the length of ii-iii compared to iv-v makes me think that i-ii should be labeled 3-4 and the ED will push higher, as I seem to always try to pick ED 5th's too early and this is exactly where it's easy to do so, but it still looks valid. I'd be inclined to reverse position with a strong downward move but RSI is looking still very bullish up here. I'm currently favouring the ultra bullish 1-2 i-ii count,...Ignored
Yes, your alt count shows the i-ii relabeled as 3-4 and I sat with that for about 3 hours! What changed my mind was the massive divergence showing at lower TFs.
You mention RSI looking bullish. On your chart, take a look at what happens when RSI spends too long in either O/B or O/S... specifically the August high. With your RSI TLs coming so close to making an apex, I imagine that RSI triangle is about to break to the downside and then it's got quite some distance to travel!
I'm waking up for the market open - it will be interresting to see what the Asian session does from current levels.
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