Gold Weekly idea.
Finished fifth wave (or near about)
Formed SOS on high - Looking for BUEC range confirm as wave 2 back to 1200 dollar area.
Then move to 3ks looks likely given macroeconomic outlook when the $USD stops being deflationary and starts an inflationary cycle
DXY looks to make up to 30% rise which will be key to the play imo.
Retail are looking to buy into Gold and BTC at present due to inflation fears, CO of both markets looking to take profits in a dollar which is increasing in value.
Both assets have yet to retest the range from their Accumulation phase. XAU is more likely to be the more predictable of the assets,
The air is ripe with retail money in response to the news and makes a ripe environment for local distribution.
BUEC target (RangeEQ) lines up with the expected 618 retrace for a wave 2
Will keep this idea running.
Short from here
Looking to long 1200 area
Finished fifth wave (or near about)
Formed SOS on high - Looking for BUEC range confirm as wave 2 back to 1200 dollar area.
Then move to 3ks looks likely given macroeconomic outlook when the $USD stops being deflationary and starts an inflationary cycle
DXY looks to make up to 30% rise which will be key to the play imo.
Retail are looking to buy into Gold and BTC at present due to inflation fears, CO of both markets looking to take profits in a dollar which is increasing in value.
Both assets have yet to retest the range from their Accumulation phase. XAU is more likely to be the more predictable of the assets,
The air is ripe with retail money in response to the news and makes a ripe environment for local distribution.
BUEC target (RangeEQ) lines up with the expected 618 retrace for a wave 2
Will keep this idea running.
Short from here
Looking to long 1200 area