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.
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.
