Amir_Shamshiri

GOLD - Sellers Didn't Show Strong Power

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
TRIGGER is required for any arrows on the chart. Please read below:

Sellers had to show more downside moves till the first weeks of April. However, they showed their weak sell-off, since they couldn't bring the price to the $1875 support zone. In such cases, the strong buys would start, as the bullish market from $1892 till $1995 as the first wave of Elliot. The second wave usually corrects 50%-61.8% of the first wave. Now, we are at 50% correction, the same zone as the $1942 support zone. I personally wait for breaking $1958 as a trigger for starting the third wave. Target prices and target time zones are mentioned on the chart.
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