Post making multi decade high, steep drop and now consolidating.
Looking at other macro factors, why should it not been seen as staring of wave 3?
Supported by multiple Inside bars, a break should initiate that?
looking for feedbacks on this..
I am looking for expert advises here. Does this chart makes sense?
1. trend line break ( short term though )
2. Inside bar break ( daily, offcourse if it sustains today's closing ). Chances based on US data is, it will sustain.
3. higher lows in this week ( daily )
Let me know if this makes sense or its absolutely wrong.
Disclaimer - I am new to technical studies and learning everyday. Please share your views, it will help me to learn better.
After reviewing GOLD multi year chart I see the following:
1. Oct 2008 @ approx $682 and high in Aug 2011 @ approx $1919
2. Retracements upward since Aug 2018 at exactly .618 level
3. Now broke .50 level last week at approx $1302...