The gold price has retraced to this extent meaning that wave (a) of wave iii (circle) has been completed and is being done as the end of wave (b) in an Elongated flat pattern, right now be pulling back wave ➃ of wave c and when end, gold will retrace wave ➄ to end wave (b) and then reverse upward trend towards wave (c) of iii (circle).
***If this wave ➃ breaks through the line (B) at 1847.130, it means that wave (b) has ended and has reversed an uptrend.
So 1) If enter, then place SL at this low.
2) Wait for the divergence between the ➂ and ➄ waves from the Macd and the bullish candlestick to enter.
3) Wait for the end of ➄ and run up until it breaks through ➃ to confirm the uptrend and then enter.
***If this wave ➃ breaks through the line (B) at 1847.130, it means that wave (b) has ended and has reversed an uptrend.
So 1) If enter, then place SL at this low.
2) Wait for the divergence between the ➂ and ➄ waves from the Macd and the bullish candlestick to enter.
3) Wait for the end of ➄ and run up until it breaks through ➃ to confirm the uptrend and then enter.
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