In my previous forecast I was expecting that the market will turn around 1260 region which is exactly what happened.
It seems that the market is now going down in a corrective structure and should face support near the 1235 to 1220 region.
I might have to make some changes to my previous counts, but that is all some technical stuff, the market is basically...
In the last article I talked about the bearish count which is my main count, but looking at this very impulsive move we must consider the alternate scenario and hence I'm writing this article.
As per the presented count I have considered that the Wave 2 progressed as a Running Flat type of correction and ended around 1195.
Course of Action :
If the market...
Hello there,
This gartley already completed but might dip down giving you an opportunity to buy. On the chart we see price respecting the blue pitchfork trendline where on the last touch D of the pattern was born. We have very nice fib confluence of the 78.6% level.
Goodluck
Prices are at 50% retracement of upleg from late Feb.
Speculative / commercial positions are within normal limits, i.e. not overstretched.
Hedge gold longs with USD longs against EUR, JPY, NZD, CAD.
Hey Traders,
We have been looking at this trend for the last week and a half in XAUUSD.
We are having a converging diagonal which will probably develop a move to the trendline and MAYBE a final breakout of the downtrend. If not it will keep correcting downtrend.
Will be posting updates.
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Hola Traders,
Llevamos analizando esta tendencia desde hace semana y...
After completing a double Zig Zag type of correction (discussed in my previous post) Gold now seems to be going up in an impulse, however the currently it seems to be in Wave 2 which looks like a Zig Zag indicating that prices can head lower from 12000 to 1175 region.
This is the main count as of now and the leg one seems to be a Leading Diagonal, other counts...
