Gold might be ready to head towards $1212/13

8 Okt 2018

Gold prices have stayed above $1192.50/94 levels until now as expected and discussed earlier. This price action is still keeping the impulse wave count possibility from $1160. As highlighted on the chart here, Gold might be close to terminating its wave 4 of a lower degree (please note prices should stay above $1192.50/94 levels), before it pushes higher towards $1212/13 levels in the short term. The completion of wave structure at $1212 levels could be the first proposed wave of one higher degree, towards $1250/70 levels going forward. The above wave count looks probable for now, but we would bring the alternate counts depending on further price action. For now, it could be a safe trading strategy to hold longs toward $1212 levels at least.


Disclaimer:

This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.