Long
GOLD Long Scenario
GOLD finished it's full Elliot Wave pattern and made a correction to 0.886 Fib zone. We have a demand zone just below 0.886 Fib level where I was expecting a bounce. We can see now that the price bounced from that area and made a first impulse upwards. I would recommend to wait for a first retrace on the lower timeframe and search for buy opportunities around 1920 and putting a stop on 1895.
Risk to reward ratio on reaching the first target is 3.2 and reaching the second target is 5.6.
I would love to hear your opinion on this one :)
Risk to reward ratio on reaching the first target is 3.2 and reaching the second target is 5.6.
I would love to hear your opinion on this one :)
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