Gold trading around 45000 is a good risk reward trade one can look after.
once we broke the traingle TGT is around 51000 one could trail the stoploss once target is achived.
*Disclaimer:Idea is only for educational purpose.
The 3-impulsive Wave was considered extended with 316% of the 1-Wave included numbers of gaps. A, B, C, and D is a parallel channel of the 4-wave. The price was traveled to appro. 38.2 retraced from 3-wave.
The 5-wave minor crossed of 3-wave on the account of the extended move seen 3rd wave.
We then came down to the level marked wave 4, but I have put a...
We are doing Analysis of GOLD MCX on 1 Hour Timeframe.
keep adding lot at 100 unit untill ST
The projected target from the breakout is usually the vertical distance from the high to the bottom .
Note: This is only for Educational Purpose this is not an Investment advice.
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