GOLD_ Wave 3
Updated
The commodities are all set to rise with DXY going into downtrend.
Gold like others had also displayed impulsive wave 1 structure and was undergoing wave 2 correction. The correction was an Elliot wave zig zag and the bottom of this ABC correction was formed on 13Nov.The correction achieved a 38.2% retracement of the Wave 1 rise.
The wave 3 is now unfolding(keep in mind third waves are most often than not,
the strongest among all 5 waves and longest).
$2140 is projected target for wave 3.
Note*- this chart is for educational purpose only.
Gold like others had also displayed impulsive wave 1 structure and was undergoing wave 2 correction. The correction was an Elliot wave zig zag and the bottom of this ABC correction was formed on 13Nov.The correction achieved a 38.2% retracement of the Wave 1 rise.
The wave 3 is now unfolding(keep in mind third waves are most often than not,
the strongest among all 5 waves and longest).
$2140 is projected target for wave 3.
Note*- this chart is for educational purpose only.
Trade closed: target reached
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