Dear Traders,
Gold price is in correction and forming wave (iv).
After that it will lead an impulse wave (v) which will be our priority to open position.
Gold price is in correction and forming wave (iv).
After that it will lead an impulse wave (v) which will be our priority to open position.
Trade active
Note
If the price does not break the High of "B" within 15 bars in 4 hour chart, then we will consider this move as "X"
That means blue (abc) will become our first correction wave ''W''
So it will lead to double correction then.
Note
Note
Seems like price is forming a double correction pattern.
Trade closed manually
I have closed my long position yesterday. I will update a new correction draft today.
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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.