GOLD PRO Weekly July 21-25, 2014

[minimax]

gold update

You know what would be twisted? We W&R low and burst out above 1315 where daily swing starts...
Such development could be read as abc down but might not be...

 

[Sive Morten]

You know what would be twisted? We W&R low and burst out above 1315 where daily swing starts...
Such development could be read as abc down but might not be...

View attachment 15979

(I've pointed my view in update). Hm, to show any significant upward action gold should have some demand power but I do not see any source of it right now. If it would exist, gold probably would challenging 1350 right now. Technically situation is really blur, but applying some fundamental issues skew odds in favor of downward action. At least this makes sense for me...

 

[minimax]

(I've pointed my view in update). Hm, to show any significant upward action gold should have some demand power but I do not see any source of it right now. If it would exist, gold probably would challenging 1350 right now. Technically situation is really blur, but applying some fundamental issues skew odds in favor of downward action. At least this makes sense for me...

Agree, but such structure demands move up before lower, except if market breaks everything..

Will check your analysis immediatelly..

 

[minimax]

gold update

Sive, agree...I wrote in chart how I read the structure..I decided for new pattern - Flat..so even that fast pull back up gets sense as cF..lack of swings in last move down gives lots of possibilities and my count is based on M3 TF...we just hit c=100%a, next target, if throw over proceed is 1282..

 

[minimax]

Gold Daily insight

Impossible to claim any pattern for certain...most likely is 5waves c wave in progress as ED...that is why I expect pull back above at least 1301,86 low if not above 1304,39 but not above 1311 because there pattern would change.. maybe on Monday, if today I would expect higher..



ps
13.58 CET
my analysis is based on choppy last leg down..but if this leg would be treated as an impulse we could just drop into 5th with current targets 1273, 1259 and 1236..
Good luck!