Hello guys, Our analysis on gold that a correction will happen from 1280 around is no longer valid anymore. 1290 now become a resistance are for the start of a correction to be observed. And the correction could dip down to fibo 618. For a long term trade, channel abc could send GOLD up tp 1330. Less is more!
I see the same thing with a different way, DXY is correcting on 4th wave (gold is not dropping seems can not start to correction) and 5th impulsive DXY wave will start soon or started. I expect gold needs to drop with DXY 5th impulse wave (after that cyclic correction, gold will flay). So A-B-C makes it. By the way what are you using in your analysis. Thanks
FUNTRADER-Vera
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@smitheric EMA 100 & 400.
Thank you for sharing your idea.
bhsencer
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@bhsencer, I think I will post couple chart Dxy and gold and hang around to learn some more of your magic.
Dxy
Gold
FUNTRADER-Vera
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@bhsencer, nice chart.
EXT fibo 1.27-1.618 zone possible for all short trade on gold.