GOLD completes 5 wavelet structures in the supply zone
Ending last week's session, after plummeting to the bottom of 1825 - 1828, GOLD had a session to increase again into the old accumulation area of 1825 - 1844. Currently, the trend of GOLD has not yet formed a clear shape. , so we will temporarily trade in the accumulation trend.
If you label the wave since the reversal, GOLD has run 5 small waves, showing that the possibility of turning down again is relatively high this afternoon.
To trade safely, we will wait for the price to break out of 1837.69 which is also the bottom of wave iv, if the price breaks this zone, it will likely continue to fall to 1825 - 1828.
Can manage stop loss after price breakout at 1844.
If you label the wave since the reversal, GOLD has run 5 small waves, showing that the possibility of turning down again is relatively high this afternoon.
To trade safely, we will wait for the price to break out of 1837.69 which is also the bottom of wave iv, if the price breaks this zone, it will likely continue to fall to 1825 - 1828.
Can manage stop loss after price breakout at 1844.
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.