Gold on Friday invalidated my previous wave count pattern but short term bearish trend is still intact. Gold is will correcting below the white colour monthly resistant line. Based on the current wave development, it seems like gold is forming a triangle wave pattern B. My previous analysis that gold is on wave C is too early. I have made a sell at current price. If the wave breaks above the red colour line, then it invalidates my count again and there is where my SL is. As triangle wave C cannot exceed the beginning of wave A.
This is not trading advice and is just my opinion on the market.
This is not trading advice and is just my opinion on the market.