Gold - Made a perfect sharp reversal at expected resistance zone.
This could be the start of wave C lower maybe, in which case we'll need to look for 1473, 100% projection of wave A or lower at 1445 as the 161.8% projection.
For now though, we're still in this ugly correction and there are many ways how this could play out this week. WXY, Flat, big w4 Triangle, w(b) Triangle and probably something else I haven't yet thought about …
So, be cautious when trading this, especially if you are a swing trader.
This could be the start of wave C lower maybe, in which case we'll need to look for 1473, 100% projection of wave A or lower at 1445 as the 161.8% projection.
For now though, we're still in this ugly correction and there are many ways how this could play out this week. WXY, Flat, big w4 Triangle, w(b) Triangle and probably something else I haven't yet thought about …
So, be cautious when trading this, especially if you are a swing trader.
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We got a 3 waves decline imo which can make this into a potential triangle.If we go above 1519, the bearish triangle count gets negated and we then can consider that we have a bullish one in play and that we'll continue higher for some more time.
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
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Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.