For now, I don't think that gold made a turn. hence, didn't complete a proper low, should it? need a solid bullish turnaround to make a clear judgment.
From "Scenario 1" I for seeing that the wave in pinkish color has been corrected for 50%-61.8% and respected that area a conformation would be breaking 1751 with a strong movement. I have to hold on to my targets of wave 5-C-4 for now.
please check Scenario 2 as well.
From "Scenario 1" I for seeing that the wave in pinkish color has been corrected for 50%-61.8% and respected that area a conformation would be breaking 1751 with a strong movement. I have to hold on to my targets of wave 5-C-4 for now.
please check Scenario 2 as well.
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I think we are in a situation in everybody is right and wrong at the same time, typical wave 4 right? Or 1-2? I'm not trading atm might be small trades here and there but where I look into solid structure, that's impossible to answer right now. I still foresee an unexpected fall, wish you all best, and I will keep updating the chart for you.
Trade active
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TP1 reached
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A bounce is expected around shark pattern area, a confirmation of the RSI trend and PA, heading to 1760-1770 area where my second entry is.Note
Closing some profit, awaiting a bounce with confirmation of breaking RSI trend and PA trend, with that shark pattern Note
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I'm still on this route, wave 2 seems to be over, and now we are heading to 3 of C of 4.Trade active
Both positions are active.Note
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Quick update, though it's working out nicely, I wouldn't trust the uncertainty of a market and what it can do. I see a Gartly forming with 4H divergence, I'm not looking to buy I will wait for the second reaction "Type 2", what I'm looking for is to close my orders and bag out huge gains and be happy ;).Trade closed: target reached
All closed happy 1:30 RRR, I will reassessment the structure and see what with this slow movement that has no volume.Note
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see you in 3 months
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.