Gold turned sharply lower then past week from 1295; clearly in impulsive fashion so it appears that metal is headed into much deeper levels within a correction of a higher degree. On the updated chart we are looking at A)-B)-C) decline in progress down to 1258 area, or possibly even back to 1245 before market may look for a new bounce; most-likely at the end of the month.
Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.
THIS one was really dope! i couldnt identify the big wave5 because of its tricky subwaves.great job!
ew-forecast
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@Hos7ein, Thanks! and hopefully more gains can now follow
salsapete
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Spot on for gold.....
ew-forecast
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@salsapete, Thanks! hopefully a bounce is now in reach!
hussain9
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Thanks brother for sharing . I thinl it looks like a 3 waves move ?
a ZZ
ew-forecast
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@hussain9, well it can be. either way we are ow looking for a minimum three wave revesal
y.k.
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@hussain9 Good count. It is more bearish. I prefer your count. Thk
look4edge
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hi, reason for 1295 reaction was longterm supply, still not crossed, pa would tell u once happens...
and i really see nothing impulsive going up there like u proposing, all corrective, rather move from 1295 down was impulsive
and i miss one leg down, y, correction from 1377 top
trade safe
cheers
ew-forecast
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@look4edge, Hi! Well, we will see what happen from here on out.
Take care