please note: This is a personal journal only, but NOT a trading suggestion.
Current price: 1864
===================Analysis=================
Gold has reached 1841 early this afternoon. I still have a question mark that whether this is the correction wave-c of the big cycle or not.
It's still possible that Gold could extend its price to 1830 area. However, the Doji in H4 also shows some potential of bullish power.
So today Gold will be mainly ranging in the area of 1865-1840 until another breakout for the confirmation
So here are a few situations:
=================Possible Situation==========
No.1 Gold ranges between 1841-1865. No.2 Gold drops from 1850 and test lower low. No.3 Gold breaks 1840 and test 1825-1830 area. No.4 Gold rise above 1865 and resume strong bullish market.
P.S: I'm NOT trying to predict the market, but just to find out the most cost-efficient plan to trade.