If my EW counts are correct, Gold should have completed wave B of 4 with the final E sub-wave throwing over the upper trendline made from connecting sub-wave A and C.
The idea now then is to short and set the stop loss above the end point of sub-wave E of B of 4 as we ride the final wave C of 4.
We are looking at an ultimate target of $3349 but take note that there are a couple of earlier (higher) targets:
1. C=A wave target at $3655.
2. Sub-wave 4 high of previous wave 3 at $3500 (entry price into yellow rectangle)
Good luck!
The idea now then is to short and set the stop loss above the end point of sub-wave E of B of 4 as we ride the final wave C of 4.
We are looking at an ultimate target of $3349 but take note that there are a couple of earlier (higher) targets:
1. C=A wave target at $3655.
2. Sub-wave 4 high of previous wave 3 at $3500 (entry price into yellow rectangle)
Good luck!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.