has given a 5 wave rally from its bottom which looks to have completed now 4th Wave being an expanded flat correction
. I would expect correction to start from current levels in gold
and expecting atleast 50% correction of the complete up move which is also near the bottom of wave 4 around 1210 Levels. One can go short on gold
now with Stoploss just above 1380 and Targets around 1210.. NFP reports could give a spike up and then fall or fall rapidly from current levels itself. Overall I am looking for a correction.
Siraj Hudda, CFTe