Welcome to this update-analysis where we are looking at GOLD 12-hour timeframe perspective, which has recently confirmed the triangle mentioned properly to the downside where it completed the wave-count in the right manner and showed up with high volatile movements, now as this major step has fulfilled GOLD has a huge potential to move on further bearish to the downside, in my chart you can see the bearish impulse to the downside already established once, now GOLD is about to form the next second major bearish impulse, the next times a pullback to the lower boundary can be expected which is actually a good entry point for short-position as it is marked in my chart, after this happened GOLD will show up with the next bearish legs to the downside.
In this manner, thank you for watching, support for more market insight, good day to you, and all the best! “Trading effectively is about assessing possibilities, not certainties.”
Information provided is only educational and should not be used to take action in the markets.
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Initial Analysis:
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ANALYSIS UPDATE: GOLD finalized the whole wave count development with the major wave 4 moving into the lower boundary of this massive triangle formation.
GOLD after finalizing the whole wave count pulled back with a strong bearish momentum and increased with high bearish continuations into the final target zones.
Hello, I discovered you by accident and found your analysis of very recent time, accurate.
My question is, do you still believe Gold to hit around $1800 this week some time?
VincePrince
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@kodak14870, Hello, interesting suggestion do you mention there, you are welcome, GOLD now has touched the suggested possible short-zone when it reacts bearish now there will come the next leg to the downside. Greetings.