Gold lower toward $1667 - $1648 before we rocket

21 Jul 2022

Gold is finalizing a zigzag (A = C) correction at $1667. This is probably the close for the week ending July 29. Then there is an hourly close/wick hitting $1648 (Fib 13 off a Fib extension from the first bearish impulse). We should see Gold rocket then. If the reaction is a strong bullish daily candle, this will be Wave 1 of a long bullish gold trend for years to come.

After Gold reverses, first TP should be $1777, (Fib 8 from the fib extension bearish impulse) Gold is definitely retracing to $1777.

22 Jan 2023

Dagangan aktif

Although a few months off, but the plan is taking place as expected. I would like to see a correction soon to the $1863 area or 4.18 fib
When the correction happens, it should be sharp, maybe we'll see a sharp strong big candle leading traders to believe its going to take off higher, but then reverse and stop-out breakout traders to only see the bullish run continue after the correction