GOLD Target for the Cup and Handle Reached at 1357
It looks like we reached the target for the Cup and Handle at 1357 few days ago.
Looking at the structure, we have nice Fib. relations:
If the Handle was wave 2, we have a Fib. target that was met for wave 3 at 1357 (1.618 ext.) . Exactly the same target of the Cup and Handle...
Actually the retrace for wave 4 reached 61.8%. So it is very possible that wave 4 is over.
On a smaller time frame, we actually have an Inverse Head and Shoulder. Just waiting for a Breakout to the upside.
In Conclusion, if we close above the neckline of this Inverse H&S and stay above 1300 in the next days, we will probably start wave 5 with a minimum target of 1380.
(Note the count will be invalidate if wave 4 reach the top of wave 1).
Project, Monitor, Adjust
Looking at the structure, we have nice Fib. relations:
If the Handle was wave 2, we have a Fib. target that was met for wave 3 at 1357 (1.618 ext.) . Exactly the same target of the Cup and Handle...
Actually the retrace for wave 4 reached 61.8%. So it is very possible that wave 4 is over.
On a smaller time frame, we actually have an Inverse Head and Shoulder. Just waiting for a Breakout to the upside.
In Conclusion, if we close above the neckline of this Inverse H&S and stay above 1300 in the next days, we will probably start wave 5 with a minimum target of 1380.
(Note the count will be invalidate if wave 4 reach the top of wave 1).
Project, Monitor, Adjust
