GOLD well Our plan was to Look sell level as 1057 and we were thinking that it will go to new lows but it again came back from 1047. Well it did not made new low although it moved 100 pips after breaking our levels.
Well For now I analyze it and came to point that we should change our mind from BEARISH TO BULLISH.
We are carefull bullish in Gold for target atleast 1100
We think this down visit at 1047 was part of corrective leg in the shape of wave (X) and now we are unfolding our self for the first upside target 1100 where we will think where to place wave Y.
At this time we need confidence of 1080 break up so that will bring us in confidence to look for 1100 as confirmed pressure.
Ideally Gold should go to 1100 as corrective.
Remember for long term , we are bearish and will look for 1000 target.
At this time 1047 unexpected breakdown will change our bullish mind completely.
Ideally 1057 should protect the downside and will alive the bullish view but if we saw again 1057 breakdown then its not good for bullish,
Trading recommendations :
We will stay patience and wait for the confirmation door for bullish which is 1080 that adds the confidence towards 1100.
Well For now I analyze it and came to point that we should change our mind from BEARISH TO BULLISH.
We are carefull bullish in Gold for target atleast 1100
We think this down visit at 1047 was part of corrective leg in the shape of wave (X) and now we are unfolding our self for the first upside target 1100 where we will think where to place wave Y.
At this time we need confidence of 1080 break up so that will bring us in confidence to look for 1100 as confirmed pressure.
Ideally Gold should go to 1100 as corrective.
Remember for long term , we are bearish and will look for 1000 target.
At this time 1047 unexpected breakdown will change our bullish mind completely.
Ideally 1057 should protect the downside and will alive the bullish view but if we saw again 1057 breakdown then its not good for bullish,
Trading recommendations :
We will stay patience and wait for the confirmation door for bullish which is 1080 that adds the confidence towards 1100.
