Gold 23/01/2017: Short 1212 and long 1190 trades
Finally got to sit down and some analysis done. The math for inner the wave 3 (tentative) are all correct. Now I'm expecting wave (iv) trade but it can either big a deep (c) swing or a shallow one. Rules of alternation dictates this wave (iv) should be deeper because (ii) was relatively shallow.
I would like to short Monday on the open (1210-1212) to 1193 if shallow or 1185/83 if deep retracement. The targets for deep retracement is 1246 and shallow retracement is 1233.
I would like to short Monday on the open (1210-1212) to 1193 if shallow or 1185/83 if deep retracement. The targets for deep retracement is 1246 and shallow retracement is 1233.
Trade closed manually:
Formation has changed and I'm flipping short to long positions for now.
Comment:
My longs are 1211 and targeting 1230, 1240, 1252. The most likely to me is 1230 because wave 4 down to 1195 was shallow.
Comment:
My updated chart for flip to long:
