I'm new to trading, so take this with a big 'ol grain of salt.
The downtrend in GOLD has potentially been reversed. Recent political changes that have introduced a threat of new tariffs and talk of a 'trade war' are the most likely cause. This surge in the bitcoin price has a potential for big gains.
If you're not already long, there is still plenty of upside potential for a well timed long entry with a target of $1274 landing around 2/20
There should a a short opportunity at 1275 with a target of $1245 before entering long for leg 5 of this impulse wave which will hopefully take us up to $1329.
While there are three positions named in this TV Idea, I labeled it long because long(er) term up-side target and two of three of the named positions are indeed long.
I'm very new to Fib and EW analysis, so expert opinion and critique of this idea are welcomed.
The downtrend in GOLD has potentially been reversed. Recent political changes that have introduced a threat of new tariffs and talk of a 'trade war' are the most likely cause. This surge in the bitcoin price has a potential for big gains.
If you're not already long, there is still plenty of upside potential for a well timed long entry with a target of $1274 landing around 2/20
There should a a short opportunity at 1275 with a target of $1245 before entering long for leg 5 of this impulse wave which will hopefully take us up to $1329.
While there are three positions named in this TV Idea, I labeled it long because long(er) term up-side target and two of three of the named positions are indeed long.
I'm very new to Fib and EW analysis, so expert opinion and critique of this idea are welcomed.
Comment:
Stop moved up to 1218 after bouncing today on the 1 fib level.
..."surge in the GOLD price has a potential"...
I had bitcoin on the brain :)