A king-sized opportunity seems to have presented itself with gold. Looking absolutely textbook as it appears price is gearing up for a bullish impulse after having corrected with a lengthy structure. Personally I am not a long term trader but for this one I may make the exception of digging deep in my patience bag. 2120? New high possibility? Well I suppose time will tell. Technically possible, now let's see what the future holds. Let me know what your views on gold are down below. Please stay tuned for entry updates on smaller timeframes as those provide the best level of entry clarity.
Targets: -1980 -2075 -2120
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Expecting a gold pullback before a move up
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Hadn't performed as planned, back to the short term drawing board for a view of an entry point that'll work towards the long term projection as well
Hi Theto thanks for your hard work, also been looking at this one for a while, I see too the 3zz but not sure if wave Z can be impulsive, it looks to me like a 2zz it self but I'm definitely no expert. Anyways I'll be looking for a good excuse to invest my hard earned money in Gold, maybe when wave b of last correction is surpassed. Good luck and thanks again for your great ideas.
Theto_Morifi
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@ialvarez66, It's quite a tricky little correction, you're absolutely correct. I however looked at it with a higher overall ABC correction. WXY forming the A leg, X froming B and Z forming the C leg. This then provides a 3-3-5 correction sequence, flat correction.
I really appreciate your support big king, let's keep monitoring these babies and see how deep they expand our skills.