Now that we have most probably begun Gold's intermediate decline at the triangle top and channel re-test, I am able to set my targets for trade possibilities.
Initial decline to fork median line and strong support @$1200 - A
Impulse bounce to 0.382 Fib and Fork's upper support ~$1228 - B
Continuation decline to lower support of the triangle and bottom ~$1165 - C
- This time-frame also corresponds w/ the date of Sept's FOMC (9/21) and next rate hike.
I would not be surprised if Gold drops below the lower triangle support to scare away some of the weaker gold bugs before eventually turning back up again, but I will most likely be out at that support level.
Initial decline to fork median line and strong support @$1200 - A
Impulse bounce to 0.382 Fib and Fork's upper support ~$1228 - B
Continuation decline to lower support of the triangle and bottom ~$1165 - C
- This time-frame also corresponds w/ the date of Sept's FOMC (9/21) and next rate hike.
I would not be surprised if Gold drops below the lower triangle support to scare away some of the weaker gold bugs before eventually turning back up again, but I will most likely be out at that support level.
Not
Not
If we dove below the triangle's support to 1155 the fib's would line up perfect for a textbook ABC correction
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.