Even though it's still a small one, we have a complete corrective structure on gold . The last bottom is 0.382 retracements of the upward impulse and 0.118 extensions of the green A wave. The next structure can be a correction for more downside or it can reverse totally. As you can see, it got a reaction and broke the . Now, I'm waiting for a reversal impulse and correction to place an entry order. My first target is 1360. It can go up to 1500 or even further. Of course, it can also make a correction and keep going down a little bit more. But I hope we will have enough time to move SL to BE in the case of a correction before another down impulse.
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Trade with care.
Let's see if we have a nice up impulse.