Gold: Prepare to short or lighten your longs

30 Eki 2024

From my previous analysis on 1st Oct saying that Gold is taking a break, it did a sideway correction for the next 6 trading sessions before pushing up again. That was a "neutral" call. Now, I see that Gold is reaching wave 3 target of $2801, meaning there should be a meaningful enough wave 4 correction to go short or at least lighten your longs.

There is a convergence of 3 Fibonacci extension levels around $2801, plus completion of 5-wave structure.

12 Kas 2024

İşlem kapandı: hedefe ulaştı

I believe that Dollar strength has peaked and thus closing this idea prematurely.