GOLD one more drop ...
The pullback is still looking a an a-b-c correction (zig-zag).
On the weekly, the 50 DMA is at 1229 and will probably provide support for the next leg down to end this correction.
Last week, we made a consolidation for Minor wave 4.
Look for termination when wave5 has completed at least five fractals in lower time frame and is in a coincidence of price and time. Also wave 5 in a corrections (abc) usually end in the area of prior wave 4 low.
Wave [c] equals 1.618 wave [a] at 1240.
Finally a wave 5 can end at anytime ...
IF we bounce sharply from the 1210-1220 area, the odds are good that this count is right ...
Disclaimer: Trade at your own risk.
On the weekly, the 50 DMA is at 1229 and will probably provide support for the next leg down to end this correction.
Last week, we made a consolidation for Minor wave 4.
Look for termination when wave5 has completed at least five fractals in lower time frame and is in a coincidence of price and time. Also wave 5 in a corrections (abc) usually end in the area of prior wave 4 low.
Wave [c] equals 1.618 wave [a] at 1240.
Finally a wave 5 can end at anytime ...
IF we bounce sharply from the 1210-1220 area, the odds are good that this count is right ...
Disclaimer: Trade at your own risk.
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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.
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.