Gold Unfolding Into Wave A, Within The Last Leg Of Triangle?

17 thg 8, 2018

A 4H chart displayed here might be indicating that the yellow metal probably terminated into Wave D around $1,160 levels, within the overall potential triangle consolidation discussed earlier. The subsequent rally yesterday through $1183/84 levels could be the beginning of a potential impulse wave towards $1206 and up to $1225/30 levels as labelled of the chart view here. For the above structure to hold, price should stay above $1160 lows going forward. This potential impulse at a lower degree could be Wave A of the proposed A-B-C corrective rally within the last leg of the triangle. In the short term, bulls could remain under control.

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