GOLD - Potential Downside Revealed
Gold has recently completed 5th wave and now nearing completion of correction wave A. Due to Trump coming in power, FED with restrictive rate cuts and end of year profit taking, we may see Dollar continuing Bull run to higher levels. Also, it is noted that we may see a Ceasefire in Lebanon and Gaza which could also impact Gold’s Bull run.
Therefore, we can expect further retracements from Wave B to C. This can also turn into a deeper correction to lower levels highlighted. Therefore, please reduce position size as it moves to higher risk levels.
The "Risk !" label indicates zones where price retracement is possible. The higher the risk level (e.g., Risk !!!), the greater the likelihood of a potential retracement.
For entries, please wait for at least two candle rejections at the specified level and apply appropriate risk management.
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