Gold should finish the abcde correction today and completing correction wave (iv). Now, according to the Elliott Wave rules, the commodity typical expanding wave 5 should start. The target range is USD 2,407.25 (+/- 20 dollars). SL has to be set to the low of wave c (1.902,84 USD) because wave e should not reach wave c anymore! (See Chart) At a current rate of USD 1,930 per ounce of gold, this results in a very clear plan and a Risk Reward Ratio (RRR) of 17.57 to 1. If the trade works out, the next lunch + drink would be financed and maybe there is enough for a starter and dessert ;-)
Well prepared and greetings from Hannover, Lower Saxony