How to trade??
1. find reversal pattern in H4, this is a chance for correction.
2. take a small size for long position in Fibonanci Expansion of H4 correction.
about FE 100%, 168%, or 200%. Use your MONEY MANAGEMENT WISELY to take a chance for long position.
3. this "5 th Wave" will get the HIGHEST price in NEXT MONTH probably. The that I mean is above 1200 (it can be 1200 - 1220).
4. Sell in that Resistance for TP1 at last support/4th wave/ about 1.050. TP2 is below than 1.050. Choose wisely.
Will it go further through the last resistance??? hmmm.. please wait, I see gold has resistance at 1085-1090 before it go through. And I see that gold need more time to break it. Let's see how price give its action in that area.
anyways, if it doesn't break, price will retest 1070- as last support and it more slippery to 1065-. Wee see together how price respect to that support.
I see a broken head n shoulder (small TF) n how price jump at support level 1080-.
I suggest to concern at 1085-, this will be new support if price do not break this level and big money will bring gold to up again.