GOLD // a long term view
It's always worth to see the long term big picture and remember what is the primary trend, where did the correction start and where it could end.
I marked the last weekly impulse wave on the long side. This market is in the weekly corrective zone from then on, and tested the fibo 61.8, maybe testing 78.6, and so on.
But until the brown validity zone stands the attack from sellers, GOLD is in a long trend with correction in place.
If price starts to crawl up, I marked the zones when taken back by the buyers (weekly closing price above), the market may target the next level.
From the ultimate long trigger zone (the very last south breakout - where sellers got strong), GOLD is heading towards new highs.
But it's a long way to get there...
Trade safe! ⚪️⚫️
--------------------------------------------------------------------------------
ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter.
WE JUST REACT!
Remember that trading is a business.
SIZE your TRADES according to your risk aversion!
----------------------------------------------------------
I marked the last weekly impulse wave on the long side. This market is in the weekly corrective zone from then on, and tested the fibo 61.8, maybe testing 78.6, and so on.
But until the brown validity zone stands the attack from sellers, GOLD is in a long trend with correction in place.
If price starts to crawl up, I marked the zones when taken back by the buyers (weekly closing price above), the market may target the next level.
From the ultimate long trigger zone (the very last south breakout - where sellers got strong), GOLD is heading towards new highs.
But it's a long way to get there...
Trade safe! ⚪️⚫️
--------------------------------------------------------------------------------
ANYWAY, a lot of Qs about the direction of the price. But it doesn't matter.
WE JUST REACT!
Remember that trading is a business.
SIZE your TRADES according to your risk aversion!
----------------------------------------------------------
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