GLD {weekly} chart. Currently in a {Wave 4} correction which can
end any moment. Potential for a full 5 wave structure. This is my
preferred count going forward. As long as we stay above major {Wave
1} at $131.15 this setup remains valid & bullish according to
Elliott Wave Theory Textbooks.
Posted by mrjasongill on 3rd of Mar 2021 at 12:13 am
I know you drew these out as well....just showing with my super
trend indicator from trading view...Could see the super trend act
as support for the wave 4 correction...lining up with comments from
other folks. You can see the daily with the regression
channel...even if this isn't the bottom of wave 4 it's due for a
regression to mean...
GLD {weekly} chart. Currently in
Posted by goldnice on 2nd of Mar 2021 at 09:54 pm
GLD {weekly} chart. Currently in a {Wave 4} correction which can end any moment. Potential for a full 5 wave structure. This is my preferred count going forward. As long as we stay above major {Wave 1} at $131.15 this setup remains valid & bullish according to Elliott Wave Theory Textbooks.
I know you drew these
Posted by mrjasongill on 3rd of Mar 2021 at 12:13 am
I know you drew these out as well....just showing with my super trend indicator from trading view...Could see the super trend act as support for the wave 4 correction...lining up with comments from other folks. You can see the daily with the regression channel...even if this isn't the bottom of wave 4 it's due for a regression to mean...
https://www.tradingview.com/x/1KghGzLN/