GOLD elliott wave analysis
after forming a leading diagonal, the price is in rising channel and hit .618 fib.
the next resistance will be .786 fib.
to enter sell wait for breakout from the channel.
stop loss should be above 1764.
to take profits, wait for the price to go lower than the fifth wave of the diagonal then measure 1.00 extension of the wave 1(the diagonal) from high of wave 2.
second target will be 1.618 extension.
you may also take profits at the diagonal low.
please do your own analysis.
the next resistance will be .786 fib.
to enter sell wait for breakout from the channel.
stop loss should be above 1764.
to take profits, wait for the price to go lower than the fifth wave of the diagonal then measure 1.00 extension of the wave 1(the diagonal) from high of wave 2.
second target will be 1.618 extension.
you may also take profits at the diagonal low.
please do your own analysis.
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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.
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.