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+.

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Comment:

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.

Comment:

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

Trade active:

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 closed: target reached