I believe gold has just completed a small 5 wave impulse as we wished for in the previous analysis. I am expecting a pullback to 50% or even 61.8% Fibonacci level (1785 and 1779) to prepare us for higher high.
Currently there is still some room for the upside which we think a possible extension to 1816 before this setup happens.
There is a higher risk to short this pullback therefore we will wait for some confirmation which will be updated below when we spotted it.
Currently there is still some room for the upside which we think a possible extension to 1816 before this setup happens.
There is a higher risk to short this pullback therefore we will wait for some confirmation which will be updated below when we spotted it.
Trade active:
Gold showing sign of exhaustion in resistant zone, I will short with tight sl
Trade closed: target reached