GOLD one more drop ...
The pullback is still looking a an a-b-c correction (zig-zag).
On the weekly, the 50 DMA is at 1229 and will probably provide support for the next leg down to end this correction.
Last week, we made a consolidation for Minor wave 4.
Look for termination when wave5 has completed at least five fractals in lower time frame and is in a coincidence of price and time. Also wave 5 in a corrections (abc) usually end in the area of prior wave 4 low.
Wave [c] equals 1.618 wave [a] at 1240.
Finally a wave 5 can end at anytime ...
IF we bounce sharply from the 1210-1220 area, the odds are good that this count is right ...
Disclaimer: Trade at your own risk.
On the weekly, the 50 DMA is at 1229 and will probably provide support for the next leg down to end this correction.
Last week, we made a consolidation for Minor wave 4.
Look for termination when wave5 has completed at least five fractals in lower time frame and is in a coincidence of price and time. Also wave 5 in a corrections (abc) usually end in the area of prior wave 4 low.
Wave [c] equals 1.618 wave [a] at 1240.
Finally a wave 5 can end at anytime ...
IF we bounce sharply from the 1210-1220 area, the odds are good that this count is right ...
Disclaimer: Trade at your own risk.
İlgili yayınlar
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.
İlgili yayınlar
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.