GOLD (B) WAVE LOW IS IN, WAVE (IV) RESISTANCE LEVELS CALCULATED
The trade here is a Bull rally until 1232.20. Then Bearish to lower lows.
Wave (ii) took 6 days and was a sharp Zigzag.
By alternation, expect this rally to be a slow march upward (not how I've drawn a simple ABC zigzag t in the Ghost feed).
It's not a Flat so far unless we get another leg down for double bottom, so expect 7 swings for a maybe a Double Zigzag (or Triple Zigzag 11 swings if we're painfully unlucky) or or course a Triangle, but that doesn't look like it's forming just yet. But we are in a wave 4 situation, so Triangles are common.
In any case, Rally to 32.20 and then watch out below.
Wave (ii) took 6 days and was a sharp Zigzag.
By alternation, expect this rally to be a slow march upward (not how I've drawn a simple ABC zigzag t in the Ghost feed).
It's not a Flat so far unless we get another leg down for double bottom, so expect 7 swings for a maybe a Double Zigzag (or Triple Zigzag 11 swings if we're painfully unlucky) or or course a Triangle, but that doesn't look like it's forming just yet. But we are in a wave 4 situation, so Triangles are common.
In any case, Rally to 32.20 and then watch out below.
Note
why won't Tview publish this? is it a server software bug?
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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.