BA_Investments

BA_Investments

After a consolidation phase where late buyers got trapped at the top, we've seen price drop to the downside liquidating multi-billions in buy orders in the past few weeks. I believe this Wave 4 shakeout will be followed by another bull run. What do you think?

BA_Investments

Gold dropped lower towards $2,882 which I said yesterday was a possibility. What's next? Option 1: Gold pushes higher from CMP, towards $2,900. Option 2: Gold keeps dropping lower towards $2,850. Which option do you agree with more?

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Gold has started the week extremely bearish. Will we see a continuation throughout the week? Dollar Index has also found support.

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Option 1: Gold pushes higher from CMP, towards a new ATH of $2,960. Option 2: Gold drops lower towards $2,880 for liquidity before it bounces back up again to the upside. Which option do you agree with more?

BA_Investments

Gold Wave 5 (Major Wave Y) moving perfectly as I called for previously! We're seeing a nice push up towards our ATH target of $2,963 which could possibly hit next week. Because this is the last 'impulse wave' to the upside (Wave 5), price has been moving slow. But that's the way the Elliott Wave Theory works. Last wave moves slow, in order to trap late buyers & sellers.

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Still keeping an eye out for a possible liquidity hunt in the short term towards a new ATH at $1,963. Pending LQ sitting at $2,955. But overall, we're bearish in the mid term so will adapt & also keep an eye out for market structure shifting to bearish. Current market structure is very choppy so I know we a lot of buyers & sellers are getting liquidated around this zone.

BA_Investments

Still keeping an eye out for possible buy's in the short term towards a new ATH at $1,963. Pending LQ sitting at $2,955. But overall, we're bearish in the mid term so will adapt & also keep an eye out for market structure shifting to bearish. Current market structure is very choppy so I know we a lot of buyers & sellers are getting liquidated around this zone.

BA_Investments

As it's a new monthly candle, Gold needs some upside LQ before it can carry on dropping. Right now my bias is; Option 1: Gold pushes higher, from current market price towards $2,900.

BA_Investments Updated 

As it's a new monthly candle, Gold needs some upside LQ before it can carry on dropping. Right now my bias is; Option 1: Gold pushes higher, from current market price towards $2,900. Option 2: Gold drops a little lower towards $2,856 zone before rejecting and buyers step in again.

BA_Investments Updated 

Even though mid term we're bearish on Gold, I still cannot ignore the fact there is a lot of pending LQ on Gold around the ATH. Also, as it's a new month, the new monthly candle requires some liquidity from the upside before it can drop. On the 1H TF I'll be targeting small zones for buys & once price reaches that zone, I can monitor for any possible rejections...

BA_Investments Updated 

Small scalping opportunity on Gold. Sell towards $2,883 - $2,878 before buying again. Overall trend remains bullish.

BA_Investments

After a consolidative phase where buyers got trapped at the top, we've seen price drop to the downside liquidating billions in buy orders. I believe this Wave 4 shakeout will be followed by another bull run. What do you think?

BA_Investments

While our short term 1H buy's didn't work out, our mid term sells on the 4H TF is proceeding nicely. Price is down 1,230 PIPS (4.18%) from its Wave 5 high at $2,956. We have MUCH MORE DOWNSIDE towards our $2,450 target, so if you haven't got in already, you have plenty more chances. If any short term buy positions present themselves, I will try to share them here.

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Even though prices are getting weaker & closer to a reversal, we’re listening strictly to what market structure tells us. Above Wave X High ($2,864) = Bullish📈 Below Wave 4 Low ($2,833) = Bearish📉

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Bare in mind Gold is not out of its danger zone just yet. While internal structures might have turned bearish, on the bigger TF we are yet to see any huge structure turn bearish. Price still remains within a huge range & buyers are holding above our previous ‘Wave X’ low. We could still see a schematic play out between Wave X & Wave Y. This means another ATH...

07:11

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Bare in mind Gold is not out of its danger zone just yet. While internal structures might have turned bearish, on the bigger TF we are yet to see any huge structure to turn bearish. Price still remains within a huge range & buyers are still holding above our precious ‘Wave X’ low. We could still see a schematic play out between Wave X & Wave Y. This means another...

BA_Investments

HUGE, HUGE drop of 650 PIPS today on Gold! Price action has been beautiful. Completion of Wave 5 of the EW Theory, followed by a much needed correction. I’ll be keeping an eye as Gold has now rejected a minor support zone of $2,889. I’ll keep you updated if further upside can resume.

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I’ve re-counted the waves, as analysed on the chart above. ⭕️3 Sub-Wave Correction (A,B,C) relabelled. ⭕️Main Supply Zone highlighted. ⭕️Alternative Bias Also Shown.