Decided to share my bullish bias with this chart on gold.
Bullish bias:
78.6% retracement in 1/3 time
Bullish hidden divergences in volume (and momentum, however volume is plotted on chart)
Initial target is the total distance from A-B projected from C, coming in at aprox. 1998$ for gold, which in turn completes the bearish AB=CD. Other potential targets plotted as .382 and .618 on the chart!
Good luck to everyone buying gold!
Bullish bias:
78.6% retracement in 1/3 time
Bullish hidden divergences in volume (and momentum, however volume is plotted on chart)
Initial target is the total distance from A-B projected from C, coming in at aprox. 1998$ for gold, which in turn completes the bearish AB=CD. Other potential targets plotted as .382 and .618 on the chart!
Good luck to everyone buying gold!
Comment:
Ascending trendline, 61.8% retracement and bullish hidden divergences appearing on the hourly charts:
