SerpentForexClub

SerpentForexClub

Price consolidate in the reaction area. Last week GU has tested the previous resistance and drop under the trendline.I expect, this week a drop to the main support. In worst case GU will rise and test the order block, then will drop.

SerpentForexClub

Price will hit 1990-200 , where the reaction area is. And than there is two possibilities: Long: Price has finished the correction at 61.8% Fibonacci retracement and just started wave 3. Short: Price will hit the reaction area, finishing wave B of 2 and then test the previous triangle as wave C, before go up.

SerpentForexClub

The price just finished the strong breakout from the triangle and now start to form swings and move up in tight channel. I would say, that the price will hit 100 before move to the next stage - broad channel or trading range. Price level 100 i also theoretically the end of Wave 5 from the Impulse. This is also the area of previous resistance area and in this area...

SerpentForexClub

The price already have retested the triangle. Now I am expected to drop further to the weekly pivot point

SerpentForexClub

The price retraced more than I expected last week. Now, I think that the price drop a little bit to close the gap or to test the previous bottom. After that Gold will rise at least to 2000.