2lalit
Long

Today Is The Day That Awaited

FX:XAUUSD   Gold/U.S. Dollar
288 3 4
Today is the day is eagerly waiting, anything can happen to gold             , whether continue decline or do a reversal.

Gold             is still seen moving in the correction of the channel impulse wave "X" ($ 1,178 - $ 1,392). Therefore, if in the case of the correction wave "Y" + "Z" is equal to the wave "X", then the end point of wave "Z" is projected to end at $ 1,195 (dotted blue line), and have a common point with proportional posture of "The Youngest"

On the other hand if the correction wave (c) of wave "Z" associated with the Fibonacci 1.618% of correction wave (a) $ 1,345 - $ 1,280, then the wave (c) or "Z" is projected to end at $ 1,217 (red line dashed) and in proportional posture of "The Youngest" is at $ 1,215.

Is this week's closing trading price could settle above $ 1215 or below $ 1,180?

I still stand on my point of view that gold             will not fall too far to $1,000 if the $ 1,180 had broken.


From The Desk Of A Newbie
Serkan Gulec
2 years ago
think that gold made the last correction at the level of 1215.7-1216 (twice even)

there is still a change that it will test also 1212-1209
https://www.tradingview.com/e/SzQsFSCj/
Reply
Serkan Gulec Serkan Gulec
2 years ago
target shoudl be 1239-1242
Reply
2lalit Serkan Gulec
2 years ago
yes sir, $1215 is the first ideal level if used 3% distance form bottom $1178 (1-($1178/$1215)).
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