nickxxix

nickxxix

As we can all see, the 4th wave has formed and is about to restest the 200 Fibo level. I expect price to drop into the confluence level between 61.8 and 261.8 Fibo level mapped out. Happy trading. Feel free to drop some comments and suggestions.

nickxxix

Gold has bounced off/retested H4 Support zone. I believed a long position toward the next resistance zone upward at around the 1357 area is valid and open. Completion of last 5th wave coming up. Feel free to comment and give suggestions.

nickxxix Updated 

Pinbar is receding from H4 resistance zone zone bouncing off a solid 261.8 Fibo level to complete the 5th wave down at approx. 361.8 fibo level. I would go for a solid short down to 0.66846 at least which is under daily timeframe support level. After we aim to recalibrate our levels for the next trade. Adhere to proper risk management. Happy trading ladies and gents.