fundamental
Fed is ready to announce tapering
NFP is ready to show increasing job
both are bad news for gold
price has finished and breakout its Abcde rising wedge pattern , ready to retest and make new lower low
support 1760, 1721 and 1680
resistance 1780, 1808 and 1844
elliott wave
wave W started from 1834, wave X making abcde corrective wave pattern ( price has breakout chart pattern, beginning of wave Y)
wave Y target - 1718 and 1683 (1.382 projection)
wave count invalidation level 1813
price aciton - wede pattern breakout retest and sell for new lower low
Fed is ready to announce tapering
NFP is ready to show increasing job
both are bad news for gold
price has finished and breakout its Abcde rising wedge pattern , ready to retest and make new lower low
support 1760, 1721 and 1680
resistance 1780, 1808 and 1844
elliott wave
wave W started from 1834, wave X making abcde corrective wave pattern ( price has breakout chart pattern, beginning of wave Y)
wave Y target - 1718 and 1683 (1.382 projection)
wave count invalidation level 1813
price aciton - wede pattern breakout retest and sell for new lower low
Comment:
micro view
Trade closed manually:
