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

FX:XAUUSD   Gold Spot / 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.
this thing is done, guys

AndyM look4edge
Yep, the majority thinks the same way! Good to know!
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.
AndyM FullTimeTrader
Nope. More decline in C wave is coming. We are not moving up yet. Not yet.
+2 Reply
Yahia.Awes Yahia.Awes
1100 possible target.
or may be yes. I love those false brekouts!
Nice view.
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