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RT

Gold is nearly done with its ABC correctionHey Trader, Current Gold price action indicates that we are nearly done with wave 2 which has the form of an usual zig zag. Therefore I expect some further downside movement to around 1774 before we move up. We had two excellent trades during London and New York session where we have booked our partials around the 1790s area before Gold dropped in order to built up its C leg. However, I think this is a great occasion to stack our buys. Best of luck to everyone. Feel free to join the family during X-Mas offering. This is no financial advice. RT
FOREXCOM:XAUUSDLong
by RT_Trading_
2
21/09/17 Gold (XAUUSD) - Daily Outlook - by RT-TradingDear Traders, As expected in my previous analysis, gold is receiving support in the zones I have identified. Based on my wave count, I assume that wave C is done correcting , which is why I now assume an impulsive bullish wave. This wave was confirmed for me when the area around 50% (which was also my entry), was pushed off. This tells me that inner wave 2 has finished correcting which means we are now in wave 3. The question now is where wave 3 will end . I have marked you gray areas here. I assume that wave 3 will target at least the area around 1772, which corresponds to an extension of 1.618 or, in the best case, the area around 1786, which corresponds to an extension of 2.618. I am very confident that we will see the area around 1772. As always, I'm looking forward to your feedback! Raffa from RT-Trading
OANDA:XAUUSDLong
by RT_Trading_
2