GOLD (XAUUSD) - ABC of the bigger (B) - 30m Chart

26 Oca 2021

According with my main Indea of the big ABCDE into the Cycle's Wave 4 I think that we stay into the relative (B) of wich the green inner ABC may be a potential path. Also looking at the potential Bat Pattern that is forming. I will look at the marked levels for a reversal up to 1880 - 1910 area.

26 Oca 2021

Not

The main idea here:

26 Oca 2021

Not

closer view:

27 Oca 2021

Not

I dont like how it is developing this that should be a "C" wave.
I mean, a "C" usually is not so slowly, so my dubt right now is that maybe we are in a wave 2 of a 5 drive up, like this:

27 Oca 2021

Not

Btw, the above shape would be really strange in a logic of a correct count. Indeed the most logically correct (admitting that the previous counts are correct), would be this:

27 Oca 2021

Not

Looks good so far:

27 Oca 2021

Not

Well, i think that the BAT pattern has failed to the completition and the possibile count of 5 drive waves down (above) is not more valid. What i can count is another formation of 3 waves (not 5), made by a double ABC bounced off at 1831 (I was expecting 1829 as min level). So this could means that we are in another 3 3 3 3 formation, that should means another 3 drive up and not a 5 waves. In this view right now, the max upside move that i see would be at 1858, max 1871. This would means that the big B in wich we are is another abcde formation and not an ABC (in wich i was expecting a move up for the C at 1880 - 1910), that might be no more valid.