Good Day
Updated
Hello Everyone,
Nice to see you again. Last year we saw a strong fall after US election that eased 70% of the gain in gold and we closed the year around 1150. This means gold averaging the price around 1180 in last three years and this gives a beautiful result showing gold maintaining it's price steadily over years.
I took physical gold purchase at 1180 that's the average and stable price over years. I have an oder below 1050.
Let's discuss the price action which I expect to achieve in this week. I am expecting a correction or continuation of BEAR from 1243 area. The price range for correction and bear move should be 1243-1200-1180. I also expect this bull move should continue towards 1285-90 once we breakout 1243 level "after correction". At this moment I have seen following technical patterns and scenario
Wish you all Green pips
Nice to see you again. Last year we saw a strong fall after US election that eased 70% of the gain in gold and we closed the year around 1150. This means gold averaging the price around 1180 in last three years and this gives a beautiful result showing gold maintaining it's price steadily over years.
I took physical gold purchase at 1180 that's the average and stable price over years. I have an oder below 1050.
Let's discuss the price action which I expect to achieve in this week. I am expecting a correction or continuation of BEAR from 1243 area. The price range for correction and bear move should be 1243-1200-1180. I also expect this bull move should continue towards 1285-90 once we breakout 1243 level "after correction". At this moment I have seen following technical patterns and scenario
- Completed Harmonic Pattern BAT with right wing 1237
- Emerging Harmonic Pattern ALT BAT with right wing 1243
- Final 5th wave of C with triangle 4th targeting 1243
- Emerging Harmonic Pattern Butterfly with right wing 1285 (seed stage)
Wish you all Green pips
Note
I would like to share a diversion here. No confident to take this at the moment. But Should follow where we see weakness in Price Action. Note
On my previous count I was expecting 4th Wave, which is not happen. Most likely the wave seems to be extended. I prefer this at the momentNote
The bear in me is very brutal ..! Ha Ha. Just a thought. Not recomendedNote
Gold not reached the target yet.But UJ got the target
Trade closed: target reached
Wait for another idea
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.