Impulse Phrase is completed and the correction phrase is forming.
Fib. RET. :
wave 2 : 78.6%
wave 3 : 361.8% (Extended)
wave 4 : 38.2%
wave 5 : 161.8% (Extended)
wave B is Bellow the starting point of wave A, so we can expect
Zigzag correction at Wave C.
both parallel channel are giving Confirmation at wave C.
Limit of wave C is wave 2 of (5) wave.
Gold has started rising from U.S. Presidential Election. I have said in the previous newsletters, bullion sector commodities are strongly bullish. How many of you bought Gold and Gold Guinea?
MCX Gold Measured Moves
I had written for the intraday traders that, " ...the day traders can...
Gold has made a Doji in the weekly chart. It's a direct sign of a reversal. And wherein ADX is less than 25 but +DI above the -DI . Additionally, the 20 MA line is trying to stay downside.
In short, DMI & MA is throwing a strong upward signal. Moreover, its volume is increasing. This week, we have chances to see gold prices above the 51860 ...
I dont know what to say, please see my all posts of gold, Gold sell call given at 52320 with sl of 52550 which was ascending channels high when i posted the chart previously, it made high of 52520 and touched the lower level of channel, infact it tried to make low around the level where the channel actually started, which was the final target of ascending channels...
Gold is about to touch ascending channels high, This is the place to lookout for sell for a fall or to buy again above breaking of ascending channel. Stay Alert. Will Update. All The Targets To The Previous Call In Gold Has Achieved.