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GOLD: RIDING GIANTS (updated idea)

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After the prosecution in extension of the C leg, we are holding our old entries and we looking foreward for new short entries.
A potential area would be 2024 - 2041 where are some counts and mixed analysis in convergence.
We still expecting a big 5 wave down series in continuation of the first one (big A, now we are in B, missed the C).
Targets: beetween 1830 and below 1800 (1760 - 1680 area to watch as possibile).

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Some lines on 2hr chart:

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Notice that two red channel lines and the big black one

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i would notice that looks as a mega rising wedge on daily chart.... and we are back below the major top trendline after a failed attempt to break up... this thing, is dead:

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The actual waves count based on the idea:

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If this count is correct, we could see soon the start of the 3d big wave down that would bring the price below 1860. A break above 1980 indeed could bring the price till 2030 - 2050 without invalidats the bigger count, but only the inner 2nd wave.

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In the 1hr it is possibile to sse a big rising wedge after a leg down, that usualt is a a bear sign. Lets see what will be the next move.

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The wedge closes at 1995 where is the 61,8% retrace of the actual top.

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The actual bear COUNT:

N.B this count will be valid only if we will break below 1900 with the next move down. Otherwise a move up above 1990 rn would be invalidates this count. This because exist another potential count in a BULL perspective, in that count this last leg down would be a 3 leg ABC (second wave down). So we have to wait for a confirmation below 1900, or above 1990 to have the right count and direction.

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We are waiting for the completition of the inner 4th up to 55 - 67 are to add shorts:

N.B. the bull count mentioned above is still valid untill we will se a break below 1900. A break above 1992 instead will invalidates this bear count.

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updated count:

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the next impulse as could be if this count is correct:

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in case that count is not correct, this could be the other possibile scenario:

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updated count and predictive next move down:

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if this impuls will happens we will finally leave the black bottom TL:

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Updated potential move after invalidation of the previous one at the break of 1963:

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worldcyclesinstitute.com/trader-resources/trader-contracting-triangle/

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Finally the entire structure appears to us more clearly and looks like a perfect contracting triangle

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We are contracting the price from 12hr into a triangle (4th wave?) before the ipotetic 5th wave. We will se the price projected below 1860?

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Time to correct up untill 1920 - 30 area with ABC move (5-3-5 ?):

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bigger picture of the above screenshot:

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updated outlook: we have two possibile path, it depends if it will retraces to 1880 area before the climbing up, in that case, the C will be much more higher (yellow path), otherwise, id we will continue up, the reversal area would be beetween 1926 - 32 area:

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actual possibile count:

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updated potential corrective ABC (zigzag 5-3-5):

the red rectangle is the new short area

fra978

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