How long will the price correction of gold continue?
Updated
Now, in continuation of the serial analysis of gold that I did from April 10 until today, I must say that after the recent correction, gold seems to have completed its wave A and we should expect an upward jump in the form of wave B.
If the price exceeds 61.8% of wave A, we have to slightly change the details of the analysis and we have to wait for the market to form wave B, but in any case, our minimum target is $1,877 and $1,900.
https://www.tradingview.com/chart/XAUUSD/t0Wo4V6K-The-long-term-trend-of-gold/
https://www.tradingview.com/chart/XAUUSD/1LCqOBLv-Gold-is-ready-to-start-its-own-long-term-rising-wave-5/
If the price exceeds 61.8% of wave A, we have to slightly change the details of the analysis and we have to wait for the market to form wave B, but in any case, our minimum target is $1,877 and $1,900.
https://www.tradingview.com/chart/XAUUSD/t0Wo4V6K-The-long-term-trend-of-gold/
https://www.tradingview.com/chart/XAUUSD/1LCqOBLv-Gold-is-ready-to-start-its-own-long-term-rising-wave-5/
Trade active
The movement of wave B has begunNote
Gold did not move according to the scenario we expected, but we still expect a correction in gold. This correction seems to start from 1780-1790 dollars.Trade closed: target reached
The price of gold reached our minimum target and has grown by about 700 pips.You can exit the buy position or keep a part of the buy position, place the stop loss above the entry point so that you don't lose the possible profit if gold grows again.I completely close the buy position and wait for the next opportunity
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