Gold Spot has been a tricky pair lately and good moves. As depicted in the chart we had a basic EW structure 12345. Our first correction became a triangle labeled abcde which was temporarily in prison which then later had a impulsive breakdown reaching 1460.00.
Support and resistance level at 1483.72 which was an area which formed a corrective channel known as triple combo EW (WXYXZ). Now we should see an impulsive move in a downtrend which might have a smaller retracement and continue fall downwards right to 1460.00.
Support and resistance level at 1483.72 which was an area which formed a corrective channel known as triple combo EW (WXYXZ). Now we should see an impulsive move in a downtrend which might have a smaller retracement and continue fall downwards right to 1460.00.
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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.