MCX Gold - Classic Bullish Triangle (Expect 56191+)

Aug 26, 2020

Bullish Triangle Running – A Classic Scenario for MCX Gold

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Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Last Price- 51650 / Time- 21:12 Hrs (9 pm) - 26th Aug 2020

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The description is based on a scientific analysis called wave theory as mentioned below
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• Currently Running in Wave-D
  Expected Out Come
  
  Wave- D & Wave -E Pending
  
  Wave-D should stop current upside move below Wave-B @ 53965 Highs to be a valid setup
  
  Post-Wave-D is done, we shall expect Wave-E Downside
  
  Once Wave-E is done downside- it should hold above 49955 low which is marked as Wave-A (means- your stops should be below 49955 lows post completing Wave-E)
  
  This forms a penultimate wave- means the second last wave on the upside that means one wave more on the upside is pending which will take Gold to the same level-56191 or above 56191 highs as of 7th Aug 2020
  
  Best visual representation has been marked using Arrows which could be a possible trajectory for the commodity in coming days
  
  

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Thanks