Know your targets on all timeframes - Gold
Whether you are a long term investor or a day trader, it is important to know your targets i.e. your optimal exit levels.
Looking at the monthly analysis tradingview.com/chart/XAUUSD/pQbWp7IQ-Gold-USD-Monthly/, the monthly target has been met. Zooming in you can see that we slightly overextended the target. That is because on the smaller timeframes (such as the 4hr timeframe) there were internal targets to be met.
As of today, all timeframe almost all targets have been met, aside the target from the last 15 min cross of the macd. This doesn't mean that gold will fall like crazy immediately! We might in fact get some retest of the top after a 30 or 1hr correction first. As soon as we get some re test of the top failure, some double top, or an impulse to the downside followed by a correction, we'll be looking into shorting gold for the c wave down to the $2000 area.
Looking at the monthly analysis tradingview.com/chart/XAUUSD/pQbWp7IQ-Gold-USD-Monthly/, the monthly target has been met. Zooming in you can see that we slightly overextended the target. That is because on the smaller timeframes (such as the 4hr timeframe) there were internal targets to be met.
As of today, all timeframe almost all targets have been met, aside the target from the last 15 min cross of the macd. This doesn't mean that gold will fall like crazy immediately! We might in fact get some retest of the top after a 30 or 1hr correction first. As soon as we get some re test of the top failure, some double top, or an impulse to the downside followed by a correction, we'll be looking into shorting gold for the c wave down to the $2000 area.
Note
(4hr internal target: almost met)
Note
(15 min target: not yet met - 2810$ area)
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