I shared the above chart with some trading friends, a couple of days ago, suggesting it was a good time to short Gold. Within a couple of days, price had dropped to the 4 demand zone and, as you'd expect, bounced. My thought then, as it remains still, is that TZ2 remains a strong target for price; perhaps after it has done some retracing.
There is nothing spectacular in the prediction - it's just reading the price action. Price might just find a base at the 4 zone and fly up to the blue TZ1, proving me wrong and confirming that "anything can happen".. What is spectacular, however, is just how much confluence there is for the top of that red 4 correction and the red TZ2 - much of which I discuss in the video that I've just uploaded to the training course. There were plenty-enough reasons to short around the 1320 level, with a market or limit order, offering a terrific RR down to 1287; and, obviously, an even better RR down to the red TZ2, if you're prepared to ride a correction. Traders who prefer to wait for confirmation, could have traded the close of the TLB bar; there was still a good return to be had.
Much of that confluence comes from the Fibo Clusters and there are cluster-clusters down at TZ2. A few of us have been trying out the new cluster-cluster feature this week and the usefulness has exceeded expectations. The latest version of eWH, with the cluster-cluster button, is now available for download, if you want to try it, but I'll probably do a few more tweaks in the coming weeks.
That new video, in the training course, shows most of the features used in eWH to: -
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