Gold faced a rejection and broken the channel for correction.
Gold has broken the parallel channel of last minor wave.
The rejection is confirmed on daily timeframe by a long bearish candle on Friday.
Hence we can see that the impulse wave of 5 waves is completed and we can expect market to give a good correction with initial target of 1857.
If we take the 2048 as the high point of the impulse wave then it has taken 138 days and we can expect correction to take minimum of 138 or more to complete.
Expecting good correction with T1 as 1857. Later targets will be shared once the wave start forming and we get more clear picture.
Till then stay safe and trade safe.
Stay safe and trade safe.
Note: The above is not a trade recommendation. Consult your financial advisor before taking any.
The rejection is confirmed on daily timeframe by a long bearish candle on Friday.
Hence we can see that the impulse wave of 5 waves is completed and we can expect market to give a good correction with initial target of 1857.
If we take the 2048 as the high point of the impulse wave then it has taken 138 days and we can expect correction to take minimum of 138 or more to complete.
Expecting good correction with T1 as 1857. Later targets will be shared once the wave start forming and we get more clear picture.
Till then stay safe and trade safe.
Stay safe and trade safe.
Note: The above is not a trade recommendation. Consult your financial advisor before taking any.
