There is a slight chance that its still inside an ABCDE 4th.
There are so many shorts based on Gartley patterns. Let's go with the minority, shall we?
Its still going up after some pullback. So its either up->down->up or down->up->up
There are so many shorts based on Gartley patterns. Let's go with the minority, shall we?
Its still going up after some pullback. So its either up->down->up or down->up->up
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If gold manages to push higher without breaking below the purple (2) 1365 is a nice target before a pullback to the lower levels.
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Gold is finding resistance here. Its not at a fib extention target but its at a fib resistance. Unfortunately there is no access to volume so this is half the picture.
If it doesnt break look for the low 1300 for a re-entry.
If it doesnt break look for the low 1300 for a re-entry.
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Target uno!
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This is a potential wave 4 retracement. Its gonna hover around 1340 levels for the next hours before it picking a direction. If the .65 fib and wave 1 support holds its aiming for a last push to 1365.
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Golden zone for the bulls at Gold.
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Note that it can still be on the ABCDE 4th and going down for the E. Its a risky trade at this moment.
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Gold is about to invalidated the bullish count. We will switch to the bearish one. Lots of fib correlations on the boxes. The middle one should hold for at least the MID term. If not the last one is the last support, also pitchfork lower support line.
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Gold likes to bounce on the .65 retracement, but the structure seems incomplete, it should have another leg down to 1314 area before bouncing for real.
