Doing research in Gold, I found a possible end of a correction cycle Also the area of 1180 corresponds to 61,8 fibo retracement to explore possibility of a new bullish trend.
In terms of time cycles , from October 2008 to low of 1130 it took 313 weeks, which represents 6 years , a good turning point after a 5 year cycle + accumulation/distribution .
Finally the coloured angle fits with the idea of an ending cycle.
I´m entering long at current levels with SL below 1180 on a daily close.
NOTE : Markets are fractal and Gann provides multiple possibilites. Time cycles are not always accurate but in this case it seems it could work.
You can subscribe to my mailing list :
eepurl.com/bp_sgP
In terms of time cycles , from October 2008 to low of 1130 it took 313 weeks, which represents 6 years , a good turning point after a 5 year cycle + accumulation/distribution .
Finally the coloured angle fits with the idea of an ending cycle.
I´m entering long at current levels with SL below 1180 on a daily close.
NOTE : Markets are fractal and Gann provides multiple possibilites. Time cycles are not always accurate but in this case it seems it could work.
You can subscribe to my mailing list :
eepurl.com/bp_sgP
Josep Pocalles
Top Technical Analysis Voice
www.linkedin.com/in/josep-pocalles/
realisto.net
One-to-One Trading Coach & Mentor
Top Technical Analysis Voice
www.linkedin.com/in/josep-pocalles/
realisto.net
One-to-One Trading Coach & Mentor
