Gold is Carving an expanded flat or A Diagonal - Dec 28, 2017
Gold has pipped us twice with the sharp rally cutting through all resistances. We present 3 probable wave counts below, and they all keep the bigger picture intact.
1. An expanded flat: This should push prices close to 1310 levels at least before drifting lower sharply towards fresh swing lows.
2. Ending Diagonal: Wave C, within an A-B-C correction can be an ending diagonal structure. If it holds true, prices shall turn lower from current levels through fresh swing lows at 1200
3. If it is a combination a-b-c-X-a-b-c, prices should reverse from current levels and push lower through 1200 levels.
Trading point of view, we are flat now but looking to sell on rallies again.
Good luck!
Harsh Japee
1. An expanded flat: This should push prices close to 1310 levels at least before drifting lower sharply towards fresh swing lows.
2. Ending Diagonal: Wave C, within an A-B-C correction can be an ending diagonal structure. If it holds true, prices shall turn lower from current levels through fresh swing lows at 1200
3. If it is a combination a-b-c-X-a-b-c, prices should reverse from current levels and push lower through 1200 levels.
Trading point of view, we are flat now but looking to sell on rallies again.
Good luck!
Harsh Japee
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