Gold for sell
Updated
As shown on the chart, gold remains in a correction area. In my view, the price is currently in wave C from the zigzag ABC within a larger correction cycle WXY. We need five waves to complete wave C.
The trade is short from the current price of 2634, with stop loss at 2646 (120 pips) and targets 2607, 2595, and 2575. Confirmation for this scenario will occur if the price closes below 2621.
Additionally, the head and shoulders pattern will confirm if price close below 2621.
The trade is short from the current price of 2634, with stop loss at 2646 (120 pips) and targets 2607, 2595, and 2575. Confirmation for this scenario will occur if the price closes below 2621.
Additionally, the head and shoulders pattern will confirm if price close below 2621.
Trade closed: stop reached
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