Something big is happening with gold. Here we can see a perfect ending diagonal just finished. A strong swift rally is expected. We could have and ABC (or WXY) correction to the targets shown on chart before rate hike (if any) I entered long today after FOMC news and following silver setup, i will update to pinpoint a setup with defined SL and targets. Regards.
Comments
Roncriss
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FullTimeTrader
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Hello, we could have some pullback near the trendline for sure, difficult to pinpoint. Long term the move is clear impulsive, i think gold will be bullish full month until next USD rate news.
Roncriss
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Thanks
ElPatron.Y
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Daily looks like it wants to correct indeed.
FullTimeTrader
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Its true, its a hidden bearish divergence, we could have some pullback there. I will be prepared to take profits on any pullback and add long. I think the W1 bullish divergence is stronger.
Lanmar
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Solid perspective.
YanNett
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Could you please show the whole pattern this ED belongs? I mean major levels too. Thank you.
FullTimeTrader
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Hello, here is my prefered count so far. The red arrow shows the possible moves im expecting to add more longs.
IvanLabrie
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Pretty much the EWI count.
It makes sense overall.
So far so good, good job.
aibek
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Hello man! Red circled ABC is the correction of larger wave 2 or 4? Where do you see the target for impulse up?