Gold - Anticipate long term sell at fib confluence
confluence: 2.618 ext of wave 1-2 of c
.786 ret of bear swing
EW:
ABC to the upside in a bear market.
Anticipate wave 5 of C.
Alternative:
- 5 is in and we move down. Unlikely as we didn't interact enough with 616 ret.
Although we do have interaction with 1.618. But the market is hesitant with sideway action. Thus primary count remains 2.618 ext target,
-Break .786 / 2.618 ext and close to consider bullish trend.
.786 ret of bear swing
EW:
ABC to the upside in a bear market.
Anticipate wave 5 of C.
Alternative:
- 5 is in and we move down. Unlikely as we didn't interact enough with 616 ret.
Although we do have interaction with 1.618. But the market is hesitant with sideway action. Thus primary count remains 2.618 ext target,
-Break .786 / 2.618 ext and close to consider bullish trend.
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and we sell