How this Works... Elliott , Wolf Wave , Action / Reaction.... Fibo.... Lets look in the Future
Gold is corrective right now. Bounce up of 40-50 $ is likely right now. But as long the Us Dollar is getting stronger we might see a boring slightly downwards Market. The Market could test somewhere the 1110$ Level. There is definytely buying Zone.
@moneycat8, Hallo MoneyCat . This is a simple technique, where you connect Top of Wave 1 and the Low of Wave 4 . Often the Price comes back to this Trendline.
To practise this. You should know about Elliott Waves Prinzipel, that you know which is 1,2,3,4 etc. Wave.