There is still enough time this week to look for the target @1.3421 if pressure to the upside continues.

Coreg's EW+HP+D/W Range

Plenty of resistance and support zones on intraday TF. Potential flat correction ABC, then move to the downside; or PP will hold, and we get a BPC setup.

Coreg's EW+HP+D/W Range

No one was interested in buying at YL @1.3273

Coreg's EW+HP+D/W Range

The zone from the prior post held nicely. Targeting 100%ATR for today if GU gets there.

Coreg's EW+HP+D/W Range

If YH @1.3340 is taken out, we target the 1.3358-1.3381 zone. Otherwise, GU is vulnerable to the downside.

Coreg's EW+HP+D/W Range

Two levels to watch on the daily chart are: 1.3350 and 1.3392. Is potential wave 5 in place? Only 113% level @ 1.3222 was touched.

Coreg's EW+HP+D/W Range

Here is an updated hourly chart with scenarios that can be played out at the open and during the day. The first heavy resistance zone is between 1.3250 and 1.3276. image If you are still developing a daily routine, this article might help. url

Coreg's EW+HP+D/W Range

After the break of WL @1.3253, the target #1 of ABC (in the circle) is 1.3192. Maybe GU gets there next week? Today's drop was impressive.

Coreg's EW+HP+D/W Range

The DXY update.

Coreg's EW+HP+D/W Range

On the daily chart, scenario #2 is on the table.

Coreg's EW+HP+D/W Range

Expect the unexpected so you won't be surprised.GU touched WL @1.3253. The first resistance zone is between 1.3293 and 1.3307. The long-forgotten level @1.3195 came back into play. Friday the 13th, I guess anything can happen. image

Coreg's EW+HP+D/W Range

Whale, the chart will show you what BOJ intends. I remember my guesses about BOJ's intentions in the 90s. Let's say my predictions weren't on the money.

Coreg's EW+HP+D/W Range

ATR (14) range is 154 pips, so gold still has room to go down today. Potential 1-5 pattern in the making.

Coreg's EW+HP+D/W Range

Watch 1.3384-1.3398 bi(a)tch zone. PA is typical for the retracement of BC leg (overlapping swings on the way down)

Coreg's EW+HP+D/W Range

Whale, AB=CD is a continuation pattern. If the last zone, 5140-5133, doesn't hold, gold will go lower.

Coreg's EW+HP+D/W Range

Gold dipped below 5140 on an intraday basis, but the 1-5 pattern will be invalidated if it closes below on the daily chart (R.Miner and my rules). Trading above 5296.13 flips the trend on the 30M chart.

Coreg's EW+HP+D/W Range

Bulls still struggle to reverse the trend on an intraday basis (HH=HL). GU printed yesterday the NR4 bar with a 65 pip range. It's reasonable to expect today's expansion of the range.

Coreg's EW+HP+D/W Range

There was an opportunity for a short trade during the Tokyo session.

Coreg's EW+HP+D/W Range

Whale, I know you want to short. The BC leg should have 5 fractals; it's my first scenario, but the pattern can fail. The most likely area where advances in gold can be stopped is between 5205 and 5220 if it gets there.

Coreg's EW+HP+D/W Range

15M chart with updated PPs. Sorry. image

Coreg's EW+HP+D/W Range