ThinkingAntsOk

Daily Analysis on Gold Futures (GC) by ThinkingAntsOk

COMEX:GC1!   Gold Futures
Use this as a guide to develop your view of the chart.

Main items we can see on the Daily Chart:

a)Our Count for the whole movement is a 12345 with a 5th on process
b)Currently, we are on a corrective zone, similar to the previous one (check the circles)
c)We think that the current corrective structure is a pennant pattern composed by ABCDE with a D on the process and a C remaining.
d)We will be waiting for the finalization of the corrective structure before developing a long trade towards the Daily Target.

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Comments

Really good disciplined application of the classic pattern. A good liquid market makes for much more recognisable patterns.
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ThinkingAntsOk Trendymanners
@Trendymanners, Thank you very much for your feedback!
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