OlegFt

OlegFt

opportunity to join on correction on the main logic of gold movement, entry and targets on the chart

OlegFt

Within the weekly analysis, which is attached, there is an option to enter the trade a little earlier, 3 targets are also marked as well

OlegFt

On the weekly chart we can see the beginning of correctional wave C. The necessary condition is overlapping of the segment with price fixing below the level of 0.8738, after which sales can be sought on the correction

OlegFt

I consider this structure as an opportunity to buy within the 5th wave to the upper boundary of the channel Buying with a pending order with three targets for fixation, which are indicated in blue color

OlegFt

Selling with good potential within the current trend, as well as within the 5th wave, the only question is whether we will update the previous low or not

OlegFt

possible scenario for gold purchases in the continuation of the uptrend

OlegFt

It is necessary to wait for a breakdown of the confirmation level to enter sales within the corrective wave C

OlegFt

The price stopped near the level of 61.8 Fibo, which coincides with the upper boundary of the current local channel, if the price fixes below the level of 2645, we can try to sell within the wave C

OlegFt

At the moment, as long as there is no price fixation above the cancel level or below the sell level we have to wait

OlegFt

Structure on the D chart is very similar to a triangle. I expect the market to make an upward correction ( Wave E ) and then continue falling

OlegFt

The price has formed a sellers zone in the range of 0.8826 - 0.8854 , put a pending sell order with the target of 0.87

OlegFt

For a more accurate entry into sales it is necessary to break the local trend line, at the moment we are at the boundaries of the sidewall, which allows to sell with a small risk per position

OlegFt

The price is squeezed in the triangle ABCDE, we need to wait for a breakdown of the lower boundary for a confident sale, or trade from the boundaries

OlegFt

The price is squeezed in a narrow triangle within the corrective wave C, we need to wait for the exit from the accumulation for a more accurate entry to the targets at 2605, 2530 and 2500

OlegFt

Excellent entry point with very little risk provided we continue to move in the channel, cancellation level will be 1.2750 and a significant move higher with consolidation and retest. At this point there is every reason to believe that the trend will continue

OlegFt

sale from the zone plus the zone from above, from where, in case of a drawdown, I will sell, the general trend is still down

OlegFt

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OlegFt

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