AndyM
Long

Gold very likely to rally in a few hours, 1200+ target

FX:XAUUSD   Gold/U.S. Dollar
224 9 8
Hi All, please pay attention to Gold             (and Silver             ) as both are at a very late stage of an ABC correction which followed the first upward impulse.

In Gold             , the A wave is over, the B wave is over, also we passed the 0.382 "deception" time band which is most likely to deliver false breakouts. So every breakout out of the present structure can be the beginning of wave 3 advance.

The C wave so far has the shape of a diagonal, which hints its almost over.
The only concern I still have is the duration of the correction is still below 0.618 of the impulse, so there is still a chance the correction may last a bit longer.

If the advance fails today, then the market will repeat its attempt in a couple of days and it is likely to succeed.
Yahia.Awes
a year ago
Nice view.
Reply
AndyM PRO
a year ago
Nope. More decline in C wave is coming. We are not moving up yet. Not yet.
+2 Reply
Yahia.Awes AndyM
a year ago
snapshot
Reply
Yahia.Awes Yahia.Awes
a year ago
1100 possible target.
Reply
AndyM PRO AndyM
a year ago
or may be yes. I love those false brekouts!
Reply
FullTimeTrader
a year ago
Hello, thanks for posting this idea, it confirms my bullish bias on gold. Personally i would prefer a deeper retracement where we have 0.61 fib cluster and previous wave 4. Regards.
snapshot
Reply
AndyM PRO FullTimeTrader
a year ago
agreed!
Reply
look4edge
a year ago
this thing is done, guys
snapshot


Gold - Wolfe picture

Gold - First target 933
Reply
AndyM PRO look4edge
a year ago
Yep, the majority thinks the same way! Good to know!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out