Gold Monthly Chart Trend : Bullish Current wave : In wave 3. Plan : Long term strategy is buy. Short term sell.
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Gold Weekly Chart.
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Speculation with EW. Possible extended wave 5 to complete wave 3.
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Speculation for next week (9th Mar onward). Going to wave 2 of extended wave.
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Next week speculation on EW + Fibo (17/3/2020) for Gold. This is only guideline.
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GOLD 23/3/2020 (NEXT WEEK) Wave b (circle) valid. Wave (ii) valid. Then Next direction is to reach Wave (iii) and Wave (v).
If Gold drop below Wave b(circle) next week, then Wave y(circle) maybe extended to lower level. then bullish impulsive wave (i~v) to Wave c(circle) has to be reviewed. This is only guideline.
Trade closed: target reached
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Gold reached target zone.
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If Wave (v) completed to complete Wave c (circle) and Wave X (circle), we may want to look for downtrend structure to go for Wave Z (circle). If Wave Z( circle) cannot be completed, probably a new higher level of Wave 2 formed. Just for training purposes.