Small Retracement Followed by BUY
As mentioned in my previous analysis, we expected Gold to push down to complete the Flat Structure for its Leg B in the main Zigzag corrective structure for WAVE 2. Now that we are done with LEG B of the Zigzag we can start focusing on LEG C of the Zigzag which should unfold in a 5 waves pattern.
Right now we seem to have completed Wave 1 , selling at this point is slightly Risky as Medium term momentum is still to the upside.Price can still break above before dropping for Wave 2 to hunt for SL's. Another option which is less of a risk is to wait for price to make atleast a 50% retracement of Wave 1 before we enter our BUYS FOR WAVE 3. Take Profits for WAVE 3 will be the 161.8 extension of WAVE 1 to WAVE 2 of the fibonacci extension levels.
Right now we seem to have completed Wave 1 , selling at this point is slightly Risky as Medium term momentum is still to the upside.Price can still break above before dropping for Wave 2 to hunt for SL's. Another option which is less of a risk is to wait for price to make atleast a 50% retracement of Wave 1 before we enter our BUYS FOR WAVE 3. Take Profits for WAVE 3 will be the 161.8 extension of WAVE 1 to WAVE 2 of the fibonacci extension levels.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.