Gold moving in a 9 wave triangle heading towards 1930
Hi Guys,
today I want to discuss a bullish scenario on Gold. As you can see we are moving in a corrective Pattern. This is likely to occur in a position prior to the final actionary wave of one larger degree as wave 4 in an impulse. This looks similar to the pattern that occurred in Silver in Year 1976, where wave 4 was a 9-wave triangle followed by a bullish wave 5 movement. We can expect another retrace to the 1875 area, which is a good entry to catch the bullish momentum heading towards 1930. If the Area around 1875 holds, I am willed to enter there my long positions, calling for 1930 and 1950 in extension.
Let me know what you think!
today I want to discuss a bullish scenario on Gold. As you can see we are moving in a corrective Pattern. This is likely to occur in a position prior to the final actionary wave of one larger degree as wave 4 in an impulse. This looks similar to the pattern that occurred in Silver in Year 1976, where wave 4 was a 9-wave triangle followed by a bullish wave 5 movement. We can expect another retrace to the 1875 area, which is a good entry to catch the bullish momentum heading towards 1930. If the Area around 1875 holds, I am willed to enter there my long positions, calling for 1930 and 1950 in extension.
Let me know what you think!
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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.