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He also produces a Daily Technical sheet with a short-term focus. This was sent last night.
Gold** Weekly and Daily April 2021
Support 1740-1750. Resistance initially 1880, closing basis. We cannot rule out gold prices trading to a new low to complete the daily pattern, particularly if the daily indictor rejoins the weekly which is declining. If we are facing an additional low to complete the last C down, targets we will focus on 1756.3 where C=A and 1733.5 where the second A-B-C would be equal to the first A-B-C.
Inline with my own work.
The ABC x ABC is a (basic) double zig zag correction, and fits the protracted nature of this correction. It targets the impatient and permabulls.
This leaves unanswered (to me) what the EW larger pattern might be.
But this feels like a 4, especially given the ramp (“3”) last summer.
5 can = 1, which would be the 2016 spring drive.
Thanks Boo
Appreciate you posting these .
Your friend is NOT chopped Liver