SELL followed by Major BUY for GOLD
Major Timeframe
For GOLD I am still looking for bullish movement for the medium to long term. I anticapte us to move further up to complete wave 2 which seems to be unfolding as a Flat Corrective Structure. Within that Flat structure we are currently in the C LEG. Within that C Leg which is a 5 wave / triangle movement we are currently in the 5th wave / leg E . Narrowing down smaller the 5th wave / Leg E usually takes the form of a zig-zag.
Minor Timeframe
As mentioned above we are currently in the 5th wave / Leg E which takes form as a zig-zag. Within the Zig-zag we are currently
completing its Leg C which is a 5 wave movement. We have completed Wave 1 and are currently completing Wave 2 before proceeding for Wave 3. Within the Wave 2 we should see a small push up followed by another drop to complete Wave 2.
Entry
I would be ignoring the small buy and waiting for the price to hit my upper triangle channel trendline for a good sell to complete wave 2. I would be talking profits at the bottom of the channel /trendline. After that I will be looking for the MAJOR Buy for GOLD (Wave 3 of the Zigzag)
For GOLD I am still looking for bullish movement for the medium to long term. I anticapte us to move further up to complete wave 2 which seems to be unfolding as a Flat Corrective Structure. Within that Flat structure we are currently in the C LEG. Within that C Leg which is a 5 wave / triangle movement we are currently in the 5th wave / leg E . Narrowing down smaller the 5th wave / Leg E usually takes the form of a zig-zag.
Minor Timeframe
As mentioned above we are currently in the 5th wave / Leg E which takes form as a zig-zag. Within the Zig-zag we are currently
completing its Leg C which is a 5 wave movement. We have completed Wave 1 and are currently completing Wave 2 before proceeding for Wave 3. Within the Wave 2 we should see a small push up followed by another drop to complete Wave 2.
Entry
I would be ignoring the small buy and waiting for the price to hit my upper triangle channel trendline for a good sell to complete wave 2. I would be talking profits at the bottom of the channel /trendline. After that I will be looking for the MAJOR Buy for GOLD (Wave 3 of the Zigzag)
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