Short

Gold: Still On Bearish Wave 2

Updated

I still see gold in process of forming wave A of 2 with A in impulse form. Using Fibonacci Extention we can see that price is rejected on 1.236 level, therefore next sell level is on 0.764. However I use more conservative approach by measuring end of wave iv of 3 using Fibonacci Retracement on 1.618 level. Trade safe, don't forget to use proper ratio and stop loss.

Trade active

Accumulate on 2047 which is the new 1.618 area and marks the end of wave 4. Stop loss zone is 2053-2061. Let's see if we can ride this.

Trade closed manually

Closed with profit more than 150 pips

eprw

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