Hello friends
As predicted, we expected a 5-wave formation, which happened, and with the formation of a divergence between waves 3 and 5, the price of gold fell.
Now a small wave with 5 parts has formed, which could be wave A of a zigzag.
We expect the price to grow by 61.8% of the decline that occurred in the main wave B.
Now, considering the psychological support of $3,000, this price reversal may happen right now or it may fall to the $2,960 range and then the price will grow.
In general, we will have a growth in the main wave B and then another sharp decline in the main wave C.
Meanwhile, the RSI indicator has also reached the oversold limit.
Good luck and be profitable.
As predicted, we expected a 5-wave formation, which happened, and with the formation of a divergence between waves 3 and 5, the price of gold fell.
Now a small wave with 5 parts has formed, which could be wave A of a zigzag.
We expect the price to grow by 61.8% of the decline that occurred in the main wave B.
Now, considering the psychological support of $3,000, this price reversal may happen right now or it may fall to the $2,960 range and then the price will grow.
In general, we will have a growth in the main wave B and then another sharp decline in the main wave C.
Meanwhile, the RSI indicator has also reached the oversold limit.
Good luck and be profitable.
Trade closed: target reached
Good luck and be profitable.
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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.