Price has broken through range. A lot has asked me how I knew gold was going to break out this week I will list a few things I was watching.
PBOC devaluation into a new moon. (dxy weakness starts with new moon phase) This would directly make gold prices go up. USDJPY- Japanese have been buying gold the last month.(now will buy more looking at the yen.) GDX - Strange price behavior/ odd volume intraday and eod. Plus an ew count towards 1237 harmonic fib.
So do you buy gold now? Is it to late? The answer is YES. Buy the dips and watch what Gold will do during this market repricing. TP1- 1237 Tp2-1278 tp3--13xx TIme frame= 2 months
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I have many reasons why i believe Wave 4 will not be deep. We shall see on the next trading day.