XAUUSD Weekly NEo Wave Update (03/12/2014)

Pattern : Limiting Contracting Triangle

Details  Of Minute Degree Waves-

Wave (a) :

1180.20 to 1433.73 = 253.53

Time Unit – 18.

 

Wave (b) :

1433.73 to 1182.35 =251.38

Time Unit- 37

Wave (c ):

1182.35 to 1388.54 =206.19

Time Unit-23

Wave (d):

1388.54 to 1240.48 = 148.06

Time Unit -23

 

Wave (e):

1240.48 to 1345.28 =104.80

Time Unit-12

Pattern Implication:-

Ø  The thrust is from 75% to 262.8% of widest leg of triangle, after completion og triangle.

Ø  The thrust  should be terminate almost be terminate exactly into the time period creating apex point.

Ø  The market action after the thrust should return to breakout point and will usually exceed it. If not returned in to break out point and market action exceeded the original trusts highest of lowest point there must be either terminal pattern or X-wave unfolding.

Target  : 1091.97

Time Frame : 6-8 Weeks.

 

Short Term Support 1190.08/1172.60

-----------------------------------------------------------------------------------------------------------------------------

Your Suggestions And Feedback Are Welcome Also You Can Write Any Trading Related Query - neoxauusd@gmail.com

For Intraday Update-Facebook
-----------------------------------------------------------------------------------------------------------------------------
Thank You.
Happy Disciplined Trading.