GOLD - Pullback complete - Should see an Impulse
Hi everyone, following on from yesterday, Gold made a rising surge. Those who bought or buying now may be rewarded if we are to be followed through with more bulls.
Looks like a pullback is complete at the 50% mark.
So far buying is occuring as bulls and bears decided at this critical 50% pullback spot.
EXPECTING a breakout of it's MOST recent high.
Looks like a pullback is complete at the 50% mark.
So far buying is occuring as bulls and bears decided at this critical 50% pullback spot.
EXPECTING a breakout of it's MOST recent high.
Comment:
Some additions to the mark ups (Bottom 2 charts)
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We also have this triangle/wedge pattern forming on the top left chart (4hr).
Higher probability of an upside breakout.
The question at that point is, will it continue rising up with the trend or fail to breakout again which will continue our "Daily Time Frame" Trading Range.
Higher probability of an upside breakout.
The question at that point is, will it continue rising up with the trend or fail to breakout again which will continue our "Daily Time Frame" Trading Range.
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Price stopped short. We're coming back down for another test on the other side of the broken trend line. If the rejection at this point/area is not strong enough then we will need to come down further/deeper into that original rejection zone. We will see how it plays off. There's support levels here for bulls to re-enter and stamp their authority.
Comment:
Either our C leg will end int this reversal zone or it will extend down to the bottom of the trading range.
Leading to this being a possible trading range.