XAUUSD Update

19 Jan 2022

Ok, so at this moment in time, the count on the chart suggests that gold should sell-off. Alternatively, we may continue rallying to form a red wxy.
All that is not consistent with a likely bounce in stocks. I have 0 positions in stocks and heavy shorts in gold , therefore I am biased and can be a victim of confirmation bias.

So either gold decouples from stocks and fall when stocks rally (can happen and did happen in the past foretelling a coming decline in stocks) or my outlook is wrong in either instrument (more likely )))

I would hate to think that we are in an even more bullish scenario which I previously indicated in orange. That is a lot of ElliottWave counts to waste.