GOLD, Final Triangle Confirmation Established In The Structure!

23 Sep 2020

Hi my friends,

Welcome to this update-analysis where we are looking at GOLD 12-hour timeframe perspective, which has recently confirmed the triangle mentioned properly to the downside where it completed the wave-count in the right manner and showed up with high volatile movements, now as this major step has fulfilled GOLD has a huge potential to move on further bearish to the downside, in my chart you can see the bearish impulse to the downside already established once, now GOLD is about to form the next second major bearish impulse, the next times a pullback to the lower boundary can be expected which is actually a good entry point for short-position as it is marked in my chart, after this happened GOLD will show up with the next bearish legs to the downside.

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23 Sep 2020

Nota

Initial Analysis:

15 Sep 2023

Nota

ANALYSIS UPDATE: GOLD finalized the whole wave count development with the major wave 4 moving into the lower boundary of this massive triangle formation.

GOLD after finalizing the whole wave count pulled back with a strong bearish momentum and increased with high bearish continuations into the final target zones.