- Testing previous structure, previous trend line as support, now resistance; - Entering overbought at 161% extension from eventual wave 1; - Retracement expected, but the price can never overlap wave 1, retracement between the 38,2% and the 50% will keep this impulse real; - Bearish Bat pattern above previous trend line (structure), that can be also a possibility and a better risk reward zone level to enter short, regarding previous structure high's; - If we get one Fast second wave(2) we should get one Slow fourth wave(4); - Wave 5 = wave 1 (end of one 5 waves impulse) - Correction...
BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD
Check previous published ideas for Gold (links below);