Gold completed wave 5 at 1740 area and then started the correction for a few days.
Yesterday, the Gold has done a typical 5 waves pattern to complete correction wave A at 1660 and today's retracement goes up to 1708 at this moment, it's hard to tell where the maximum B point is but I would prefer to sell at any level around or above 1710.
Based on the Fib calculation, 1712 is 0.618 point.
Wave C is coming and the TP is around 1630-1640.
No plan, no trading.
Short at 1705 - 1715. SL . 1720 TP : 1640
Yesterday, the Gold has done a typical 5 waves pattern to complete correction wave A at 1660 and today's retracement goes up to 1708 at this moment, it's hard to tell where the maximum B point is but I would prefer to sell at any level around or above 1710.
Based on the Fib calculation, 1712 is 0.618 point.
Wave C is coming and the TP is around 1630-1640.
No plan, no trading.
Short at 1705 - 1715. SL . 1720 TP : 1640
Trade active:
I'm still holding my idea. Wave C is expected and Add my short at 1727. SL 1745
