Gold short-term SELL setup

Обновлено
Arguments:
- trendline of 3rd (yellow) wave is broken.
- divergence in 3rd and 5th wave(green) tops(12 and 17 jan) inside 3rd wave extention(yellow).
- ABC (3-3-5) expanding flat pattern. wave B is still forming.
- wave (c) (inside B wave of ABC pattern) is a diagonal.
sell it when line conecting 2 and 4 wave's ends of diagonal(green) is broken,
wave C should be a 5 wave impulse or a diagonal.
wave C should correct extended wave 3(yellow) by smth like 38%, and should finished inside wave 4(green) of lesser degree.
after that wave 5(yellow) (up) should be.
Keep an eye on it!
Good luck!
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there is an possibility, gold makes one more abc up(5th diagonal wave) before going down.
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looks like zig-zag pattern.
flag breakout will be a confirmation.
gold may drop well below 1991
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possible scenario
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Сделка активна
1991 target is reached
next one is 1174
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Сделка активна
looks like gold completed corrective structure.
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Сделка закрыта: достигнута тейк-профит цена
I've just looked at my 1st gold idea.
GOLD SELL setup

Original price target was wave C = 1.618 * wave A = 1180.7
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looks like ABC correction(wave 4) is nicely done.
so, wave 5(up) unfolds.
targets for wave 5 are 1221 (100% of wave 1) and 1246 (161.8% of wave 1)
Gold

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