Gold... Let's talk about cycle !
Updated
Hello guys,
Today is a magic day, I have waited to post you this trade for months. The last big guys on my radar are SP500 and NQ but there are not ready for now !
So about Gold : After years of consolidation (first a bottom range, then a breakout). Gold has finally reach today the magic 0.618fibs and complete, at the same time a perfect 1.23 fib extension on logical to achieve his ABC correction of a "potential" major B wave. If you want to compare with crypto, BTC after falling to 3300$ had reach this 0.618 too and then fall around 50%.
"Potential" because at the time of writing, it's more or less impossible to predict the exact religion of the C, but one thing is sure for me : in this price structure, there is now a perfect trade with low-risk/high-gains ratio. A ratio with potential more than 1/10 reward.
Indicator confirmation : RSI shows bearish divergence with potential H&S.
If you like the idea, please support my (free) work with likes, comments, follows and shares !
Feel free to ask additional question. I'm always trying to answer you under my char or in PM.
AGAIN THANK YOU FOR YOUR SUPPORT, WE ARE NOW MORE THAN 1500 !
In description you will find my others actives trades which are still in play for now ! (BTC, GBP, Silver, stocks)
DISCLAIMER : I'm not financial advisor. I can"t be responsable for your losses. You trade at your own risk. And short is always risky ! I'm do it for my personal entertainment.
Today is a magic day, I have waited to post you this trade for months. The last big guys on my radar are SP500 and NQ but there are not ready for now !
So about Gold : After years of consolidation (first a bottom range, then a breakout). Gold has finally reach today the magic 0.618fibs and complete, at the same time a perfect 1.23 fib extension on logical to achieve his ABC correction of a "potential" major B wave. If you want to compare with crypto, BTC after falling to 3300$ had reach this 0.618 too and then fall around 50%.
"Potential" because at the time of writing, it's more or less impossible to predict the exact religion of the C, but one thing is sure for me : in this price structure, there is now a perfect trade with low-risk/high-gains ratio. A ratio with potential more than 1/10 reward.
Indicator confirmation : RSI shows bearish divergence with potential H&S.
If you like the idea, please support my (free) work with likes, comments, follows and shares !
Feel free to ask additional question. I'm always trying to answer you under my char or in PM.
AGAIN THANK YOU FOR YOUR SUPPORT, WE ARE NOW MORE THAN 1500 !
In description you will find my others actives trades which are still in play for now ! (BTC, GBP, Silver, stocks)
DISCLAIMER : I'm not financial advisor. I can"t be responsable for your losses. You trade at your own risk. And short is always risky ! I'm do it for my personal entertainment.
Note
PLEASE READ THE CHART : C WAVE is a "POTENTIAL MAX TARGET PROJECTION" thank you by advance !Note
I'll keep you update for the TP points.
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