I have re-analysed the market by looking at the overall bigger picture on Gold and here is my current short bias on Gold. We've seen Gold start a new mid-term uptrend these past 2 weeks shooting up roughly 500 PIPS. Price has started losing bullish momentum indicating that sellers will be stepping into the market soon.
This has given be a better picture showing that Gold will start heading down soon. I am expecting Wave 3 to end here and see a correction down towards 1820-1814 as Wave 4. Then one final wave up (Wave 5) towards 1837-1843 before we finally see Gold start melting towards 1774 in order to complete Wave C of the overall bullish correction.
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This has given be a better picture showing that Gold will start heading down soon. I am expecting Wave 3 to end here and see a correction down towards 1820-1814 as Wave 4. Then one final wave up (Wave 5) towards 1837-1843 before we finally see Gold start melting towards 1774 in order to complete Wave C of the overall bullish correction.
All of my socials are listed on my TradingView profile. Feel free to follow my TradingView in order to keep up to date with all the latest analysis. Drop a like if you agree with this chart analysis or let me know what you think!
