The major yellow bearish TVC:GOLD wolfewave was shaped successfully on 07 June as the price didn't manage to break through resistance area of ~1295-1300 and thus formed the peak at point V.
Currently, the minor purple wave is forming on H4 and if successful, is likely to re-test previous resistance level once again.
Provided that new double peak will hold...
LOOKS LIKE THE CORRECTION IS ABOUT OVER!!
If we are - and i very much think we do- at the start of the uptrend we can make lots, and lots of pips. !
Here's why, the higher trendline of the BB% is almost being touched with an almost oversold RSI. The same place was back in the 99's 00's at an overbought spot but now it is heading to oversold.The last monthly...