Gold may come out with a pattern that can turn upward after the correction process is over.
The important thing is that the monthly correction of the downward wave has not come out yet, but depending on how upward the monthly supply zone pushes, the lower monthly demand zone may also rise upwards. This could create a monthly bullish pattern because even if it goes down, there may be a support line below. If so, the upward trend of the monthly bullish pattern will continue.
When gold hits the first monthly supply zone (see last post), keep an eye on the market reaction.
The important thing is that the monthly correction of the downward wave has not come out yet, but depending on how upward the monthly supply zone pushes, the lower monthly demand zone may also rise upwards. This could create a monthly bullish pattern because even if it goes down, there may be a support line below. If so, the upward trend of the monthly bullish pattern will continue.
When gold hits the first monthly supply zone (see last post), keep an eye on the market reaction.
Trade active
This scenario is just the beginning. First of all, the current rise must propagate as a daily bullish wave to make it more feasible. Those who haven't entered before will be given a chance to buy as it propagates in the daily uptrend.
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.
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.