Gold - bearish target

Gold is making wave B of primary wave 3 (on the hypothesis of making diagonal of cycle wave 5). Currently it is in wave (C) of this wave, and should be an impulse. This impulse has made wave 1 and 2 achieved almost its target of 61.8% retracement. It should fall rapidly from here, if it continues to become wave 3 of this impulse.

Target Short by $100+.

Disclaimer : Views above are my personal views only for my personal trading. It is posted here to seek views and comments from the community of gold traders in Trading View. No part of this analysis should be construed as an advice or inferment to undertake any trade or investement or to initiate any investment or wind up an existing investment or otherwise deal in the security / asset mentioned here, on the basis of anything contained herein. Readers are advised to consult their own financial advisors to make any investment, trading or exposure decisions. The author shall not be responsible or liable for any losses or damages, whether pecuniary or otherwise, resulting from the use of information here, whether to the reader or any third party.

Comentário:

The pattern became unexpectedly complex after posting the idea, the current pattern suggests that the wave C, of downward correction, may have ended with failure and a new bull wave is underway. The current news around interest rate supports the pattern failure.

As of now, am cautiously bullish, the bearish stance has evaporated.

Comentário:

the price of gold from this source is discontinued, so am ceasing to update further this, though 67% of the target was achieved.

Trade ativo:

Down targets have already been achieved. Strong rebound towards first target of 2092 may begin anytime. I am starting to buy on each dips

Trade fechado: objetivo atingido