There are two possibilities in Gold. Possibility 1 shared in another post (Targets of Possibility 1: 0.236: $2056, 0.382: $2781)
As per Possibility 2 the spike move up was 5th of 3 and hence we have just completed a 3rd Wave in weekly time frame - ending the move from Oct 2023 lows.
In this case also, we can expect 0.382: 2850, 0.5: 2650.
Gold went up on account of multiple reasons, key of which being de-dollarization and buying by non US countries.
However, my sense is that the spike in price was on account of trades from institutions, which will get unwound when price starts correcting and fuel the correction on the way down.
The move in last 2 weeks was a typical parabolic move, which should mark the capitulation.
Probable Risk: The last move from April lows was just 1 of 5. Hence keeping SL of current high is important.
Breaking 3150 (0.618 of the move from April) should give us more confident that 5 is done.
As per Possibility 2 the spike move up was 5th of 3 and hence we have just completed a 3rd Wave in weekly time frame - ending the move from Oct 2023 lows.
In this case also, we can expect 0.382: 2850, 0.5: 2650.
Gold went up on account of multiple reasons, key of which being de-dollarization and buying by non US countries.
However, my sense is that the spike in price was on account of trades from institutions, which will get unwound when price starts correcting and fuel the correction on the way down.
The move in last 2 weeks was a typical parabolic move, which should mark the capitulation.
Probable Risk: The last move from April lows was just 1 of 5. Hence keeping SL of current high is important.
Breaking 3150 (0.618 of the move from April) should give us more confident that 5 is done.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.