herwhitelillies
Long

GOLD; finishing a flat correction

FX_IDC:XAUUSD   GOLD / US DOLLAR
Now that the triangle has broken, bigger picture seems clearer.

We are still finishing a flat correction of wave 5-2 on H4 chart. C usually ends around 1.236 of wave A.

Blue lines measured AB=CD also points to 1320             level.

Watch out for price action at blue line , good to take longs 1321/1322 with SL below 1320             , TP 1375-1380 ( end of wave 5-3 on H4, also 1.618 of 5-1 (move from 1310-1366). Good risk/ reward ratio. Typical wave 3 should be fast, swift and strong. Price should hit tomorrow during Asia session, I realised Gold             likes to finish its correction in Asian trading.I think gold             Bulls have unfinished business and this could be the fifth wave extension on Daily.

Happy trading and GL everyone.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out