gold weekly chart showing diffenrent way to use fib to calculate
2300/2400 is or tgt upper channel line
ABC or 5 wave ..... w3 of wave c or coud be wave 3.. one more leg up to complet wave 3 or wave c. then will eye for retracement weather wave 4 or wave a of retracement
check the channel lines how it giving support / resistance
few factors to keep in mind
from aug to oct nifty corrected in 3 wave abc... from oct low to today eyeing 3wave..Q today is has Wc near completion ? possible we r in w3 of WC
also if momantum is high.. which is currently.. Wa = Wc +1.27 can extend =119xx possible
companys yearly report - yearly march end report
Wa took 23 bars... Wc 23 bars = 22nd of...
ab=cd simple but powerfull hormonic structure
fib extention lvls
EW - corrective 5 3 5
ECB news -ve for euro...all eyes now on dollar indx dxy...
also eye wedge which normally is swing area 1.1 -1.09xx