Gold Spot / U.S. DollarUpdated Gold 23/01/2017: Short 1212 and long 1190 trades
Finally got to sit down and some analysis done. The math for inner the wave 3 (tentative) are all correct. Now I'm expecting wave (iv) trade but it can either big a deep (c) swing or a shallow one. Rules of alternation dictates this wave (iv) should be deeper because (ii) was relatively shallow.
I would like to short Monday on the open (1210-1212) to 1193 if shallow or 1185/83 if deep retracement. The targets for deep retracement is 1246 and shallow retracement is 1233.
I would like to short Monday on the open (1210-1212) to 1193 if shallow or 1185/83 if deep retracement. The targets for deep retracement is 1246 and shallow retracement is 1233.
Trade closed manually
Formation has changed and I'm flipping short to long positions for now.Note
My longs are 1211 and targeting 1230, 1240, 1252. The most likely to me is 1230 because wave 4 down to 1195 was shallow.Note
My updated chart for flip to long:
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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.