Daily is a mess. But you're right, triangle seems to be the pattern atm. Every time the price hits the 3425-3450 zone, the heavy sellers step in.

Coreg's EW+HP+D/W Range

Before you enter the counter trend trade, be sure to drop to your trigger TF, like 5M, and examine if the last section (b)-(c) leg has 5 fractals.

Coreg's EW+HP+D/W Range

Dollar Index challenging 50% retracement of weekly bar @98.51.

Coreg's EW+HP+D/W Range

After gold reached the end of an ending diagonal (you may know it as a wedge or flag formation), it dropped 133% daily ATR(14) so far today.

Coreg's EW+HP+D/W Range

navk, sure ...just updated the 30M chart. On Friday, GU made the NR4 bar so that we can expect increased volatility, and S2 has a chance to be reached today.

Coreg's EW+HP+D/W Range

Potential plays for today only.

Coreg's EW+HP+D/W Range

Finally, GU got into a potential reversal zone @1.3465-1.3475 and gave a decent 50 pips drop. Is this the deeper correction? Maybe? image Daily gives a bigger picture...Important for bears to hold the price below the channel's upper TL. image

Coreg's EW+HP+D/W Range

Waveski, you most likely missed Leon "the shark" TE last year. His base currency is the South African rand, and he trades micro lots. Your calculation of his profits is very generous. image

Cable Update (GBPUSD)

Close above 98.48 would be nice for the dollar index.

Coreg's EW+HP+D/W Range

Gold- Potential ending diagonal wave 5 in the making...

Coreg's EW+HP+D/W Range

The textbook high for C is @1.3490

Coreg's EW+HP+D/W Range

GU busted the first potential reversal zone @1.3370-1.3390 and reached DRE zone for the day @1.3422-1.3455. Note that AB=CD is a continuation pattern, so a new high for GU can be expected (with a 70% chance of success). But for now, let's stick to ...

Coreg's EW+HP+D/W Range

Have you had fun trading GU over the last two days?

Coreg's EW+HP+D/W Range

All eyes on the zone 1.3370-1.3390 if GU gets there. image Target of H&S is below 1.30. The horizontal line at 1.3370 is a neckline.

Coreg's EW+HP+D/W Range

With th e dollar index, we watch the 99.42 level and 100

Coreg's EW+HP+D/W Range

If gold makes wave 5 the standard target zone is 3395-3407, with a possible extension to 3422

Coreg's EW+HP+D/W Range

EJ update...continuation of an original thought.

Coreg's EW+HP+D/W Range

navk, how did you get @3338?

Coreg's EW+HP+D/W Range

or 535 ??? After ABC, I always set the zone for the potential 4th wave, keeping in mind the second option —the 335 pattern— that can take gold to my second green zone. image Added: If extended to 3403.90, most likely we deal with a 1-5 ...

Coreg's EW+HP+D/W Range

Nice bounce after weak NFP data. AB=CD reached overnight.

Coreg's EW+HP+D/W Range