Hello everyone,
last analysis has been a while, I hope everyone is doing good during those tough times.
As you can see Gold has been very impulsive to the bearish side. I think that we are done with our 1-5 impulse and I am therefore looking to hold my longs towards the $ 2000 area. If my count is correct it is very likely for Gold to retrace at least 50% of the bearish movement with 61.8% being more likely.
A stop could be considered under the previous low.
If you need further information, please see below.
Good luck everyone and a profitable week.
RT
last analysis has been a while, I hope everyone is doing good during those tough times.
As you can see Gold has been very impulsive to the bearish side. I think that we are done with our 1-5 impulse and I am therefore looking to hold my longs towards the $ 2000 area. If my count is correct it is very likely for Gold to retrace at least 50% of the bearish movement with 61.8% being more likely.
A stop could be considered under the previous low.
If you need further information, please see below.
Good luck everyone and a profitable week.
RT