FOREX GOLD FUTURE HAS BEEN SHAPED UP HEAD & SHOULDER PATTER ITS NECK LINE HAS BEEN BROOKED WE CAN TAKE SHORT SELL.
ENTRY PRICE 1730.10 TO 1725
STOP LOSS 1740
TARGET 1700
MY CHART DISPLAYS all elliot wave conditions respected in gold futures monthly . Whatever may be the economic woo's this commodity(not safe heaven)will come down
How to use our W5T Roller Coaster indicator with our Elliot Wave and BITS indicators. If you want to take some of the noise off your charts, the W5T Roller Coaster indicator helps find those breakout trades and 3rd wave of the Elliot Wave.
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looking at the chart and price action combining fundamentals together I see gold could almost reach near to life high ( no where i say it will make a life high) IN NEXT 1 AND HALF YEAR ( 18 months) time period
Channel coincides with previous pivots from 2012 and with 0.618 Fib also with oversold oscillators suggest its a top. So just short it with tight stop, R:R is nice. BTW I'm bullish on GOLD for coming years. A retracement to Movings averages is a DIP, so position yourself accordingly.
All those who think that this rally can't be sustained because of stronger dollar must think again. All fundamentals are against the world economic growth. Crudeoil shock is the only thing that can put check on stagnating global economy. Trade war is silently eating into world trade and economic growth. IRAN & US are making headline every alternate day or week....
