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GOLD: to keep it simple

TVC:GOLD   CFDs on Gold (US$ / OZ)
Hallo traders, good morning!

It's only Monday therefore please don't rush in and be patient.

I hope you all had a nice week end.

GOLD -0.32% , after hitting 1160 (X), bounced up towards the 200 SMA with a classic five wave move. During the retracement phase from 5 to B the price hold it above previous low (4) to form a divergence with B in the RSI . The push that the precious metal is receiving from the 200 SMA may drive the price to break B and target 4 or maybe even the 0.618 Fib from X to 5. Otherwise, if B hold and GOLD -0.32% crosses the 200 SMA price may target 5 or higher.

Please share your views and comments. Any idea is a contribution for better understanding The Matrix.

Please note that I am not a professional trader and these are my personal ideas only.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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