glennmercer
Short

GOLD Wave Count: Bulls Be Cautious, Drop Likely to Continue!

FX:XAUUSD   Gold / U.S. Dollar
Hey traders, the wave count on the lower degrees agree with continued bearishness before a rebound. I expect bearishness thoguhout the week but this is speculation based on previous price action. The invalidation level is up around 1320 and a lot can happen in that range. Be cautious with any long positions until wave-C completes. Cheers!
nice charting and explanations.
welcome some more detailed analysis.
Reply
Glenn,
So how do you know when the Wave-C will be completed ?
Is it when the movement is reversed ?
Reply
Hi Albert. Wave C will be a five wave impulse. After five waves are counted, I will look for a reversal followed by a pullback. Cheers
Reply
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