✅PREVIOUSLY ON GOLD
There's 5 waves from 1721 to 1877(lime2 - lime3) and we expected the strong bearish waves.
✅WHERE WE ARE
1877 can be thought as 3(lime). if so, we should wait for 4(lime) to be bullish again.
Lime12 correction was zigzag, so lime 34 correction which we are on should be straight, which explains the current bearish waves.
💡So, where would be 4(lime)?
Because Fib38.2 has been broken, Fib61.8(1781) could the next support.
Also, there is the strong support line around Fib61.8.
Thus, it can be thought that 1781 would be 4(lime).
*As long as 1721 remains unbroken, this idea is valid.
💡The absolute principle for trading💡
BUY - as low as possible
SELL - as high as possible
PLEASE DO NOT FORGET TO SMASH LIKE👍🏻 AND FOLLOW ME❤ IT MOTIVATES ME TO THE NEXT IDEA! THANK YOU 🎉
There's 5 waves from 1721 to 1877(lime2 - lime3) and we expected the strong bearish waves.
✅WHERE WE ARE
1877 can be thought as 3(lime). if so, we should wait for 4(lime) to be bullish again.
Lime12 correction was zigzag, so lime 34 correction which we are on should be straight, which explains the current bearish waves.
💡So, where would be 4(lime)?
Because Fib38.2 has been broken, Fib61.8(1781) could the next support.
Also, there is the strong support line around Fib61.8.
Thus, it can be thought that 1781 would be 4(lime).
*As long as 1721 remains unbroken, this idea is valid.
💡The absolute principle for trading💡
BUY - as low as possible
SELL - as high as possible
PLEASE DO NOT FORGET TO SMASH LIKE👍🏻 AND FOLLOW ME❤ IT MOTIVATES ME TO THE NEXT IDEA! THANK YOU 🎉
Note
It's bounced off exactly at fib 61.8.If the daily candle closes bullish, we can expect the bullish impulse.
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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.
Related publications
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.