Short term path of Gold
Gold looks to have completed wave WX of a complex WXY correction.
I expect prices to fall to Y in the area of about 1215-16. Here is a good spot to buy if gold is to go higher.
Y waves are hard to predict as it can be in any combination... so can short from here with stops at 1231 which is your invalidation point.
Or else just wait and set buy limit order at 1216 with stops at about 1213.
Good luck, and happy trading.
I expect prices to fall to Y in the area of about 1215-16. Here is a good spot to buy if gold is to go higher.
Y waves are hard to predict as it can be in any combination... so can short from here with stops at 1231 which is your invalidation point.
Or else just wait and set buy limit order at 1216 with stops at about 1213.
Good luck, and happy trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.