GOLD 02.12. End of the fifth wave
Gold. 4 hour timeframe. Local situation.
1) The fifth Elliott wave is forming. Presumably, the target may be the Fibo level 2.618
2) From 2.618 I will expect a pullback in the ABC format
3) Near the level of 1820 begins the zone of high volume, the price will not pass this zone from the first time
4) On the daily chart the candlestick is formed, which can also herald the continuation of growth
The price is within the range of 1784-1820. No deals should be opened. We expect either a pullback to 1784 and buy, or growth to 1820 and sell.
1) The fifth Elliott wave is forming. Presumably, the target may be the Fibo level 2.618
2) From 2.618 I will expect a pullback in the ABC format
3) Near the level of 1820 begins the zone of high volume, the price will not pass this zone from the first time
4) On the daily chart the candlestick is formed, which can also herald the continuation of growth
The price is within the range of 1784-1820. No deals should be opened. We expect either a pullback to 1784 and buy, or growth to 1820 and sell.
❤️ Telegram channel: t.me/AndeWave
❤️ Telegram channel: t.me/AndeWave
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.