My forecast for gold; in short term to 1705 to make the 4. wave swing high..afterwards the 5. wave towards 1660 level in maybe a few days...so waiting for the 1705 level to open my short position...this 5.wave is the last leg for the downcoming wave from 1795 top...
Comments
huseyin.karagozoglu.1
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My wave count is stil in progress..1705 zone is acting as a resistance,so I opened new shorts at 1705,waiting for the TP=1660...SL=1712.....R/R= 450/70=6.42... very good reward/risk ratio...lets see...?
huseyin.karagozoglu.1
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I closed all the long positions at 1699,the wave could not reach 1705,which was my TP level..
huseyin.karagozoglu.1
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thanks;by mentioning " towards 1660" , I made a statement to show the importance of the 1650-1670 zone for the 5.wave downwards..ı don't have any idea about the exact location?? 1703.66 level has been seen,and so far my view is in progress.Taking care for closing long positions today...:)
nicosxm
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Agreed with your view, however I do see strong support at 1681 and again at 1677......PS:I do not trade spot Gold but GC Futures Contract...