GOLD. Buy on dips to 1286-1265. Target 1560
Updated
As time goes by the picture gets clearer and I think the map has changed as
we have another wave to the upside pending (wave C).
Contracting flat has been completed in wave B and we have first wave up and a retracement in wave 2.
It could drop deeper to the area highlighted with an orange box (1286-1265).
It could be better to long there.
Minimum target where C=A = 1560, which coincides with the 61.8% Fibonacci from the all time high to the major low.
The risk should be limited at least below the start of wave 1 of C (1236).
we have another wave to the upside pending (wave C).
Contracting flat has been completed in wave B and we have first wave up and a retracement in wave 2.
It could drop deeper to the area highlighted with an orange box (1286-1265).
It could be better to long there.
Minimum target where C=A = 1560, which coincides with the 61.8% Fibonacci from the all time high to the major low.
The risk should be limited at least below the start of wave 1 of C (1236).
Order cancelled
Model changed
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.