Gold = Elliott Correction Short
Gold appears to have made a 5 wave impulsive move from Aug 2018 and completed in March 2020.
A corrective phase may be in play with waves a and b completed. If so then the next is a c wave to the downside.
Fibonacci extension of the a wave and Fibonacci retracement of the impulsive waves sets a projected target to the downside
between $1324 - $ 1368.
Entry = closer to $1600
Stop = above B wave
Target = $ 1345
RR = 5......
A corrective phase may be in play with waves a and b completed. If so then the next is a c wave to the downside.
Fibonacci extension of the a wave and Fibonacci retracement of the impulsive waves sets a projected target to the downside
between $1324 - $ 1368.
Entry = closer to $1600
Stop = above B wave
Target = $ 1345
RR = 5......
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.