Gold-D Futures forum

2 hours ago

Price seems to be reversing and without a break of 3418, we get back to our bearish scenario targeting 3283

4 hours ago

Analysis is on point so far. This is the current EW count that I am looking at.

Watchout for 3418 and 3442 next.

Idea: $GC/$MGC/Gold - Weekend Update

Caramel0

yesterday

Geopolitical news may cause the markets to go crazy at open.

For gold, we could have created an Wave 2 of a new 5 wave cycle, which puts our next target around 3690-3624. However, we do need a solid break above 3395.8 which is right below our POC.

My level to break for upside is still at 3442 and 3504. I am still being careful with the 3357 level and the possibility for a deeper retracement.

Hopefully I'll be able to record and post an update later today.

Caramel0

3 days ago

A alternative count shows that we could be already on wave C of this retracement, I'm planning on recording a video about it, but im having issues with my setup.

I'll keep yall updated

Caramel0

3 days ago

Bearish scenario seems to be the one playing out.

Im expecting a pull back that could go all the way towards 3428 and get rejected and continue down towards 3335.4-3283.8 target range.

A break above 3442.2 will indicate that price wants more upside, possibly reaching that 3504 level.