On the Weekly timeframe seems like B leg is completing soon assuming that its not an expanded flat which will create a new high (2k price range).
If Gold does plays out according to my analysis we could see Gold price fall much faster than we expected.
From Harmonics point of view 2 x Bat patterns were spotted, the smaller bat had achieved TP 1 with the low of 1450 during the last fall, price has since rallied up to the 1750 range. From here we most probably will see a slight pull back before price rally for Wave 5 into the Harmonics PRZ.
Let's montior and see if this will be the trade of the year!
If Gold does plays out according to my analysis we could see Gold price fall much faster than we expected.
From Harmonics point of view 2 x Bat patterns were spotted, the smaller bat had achieved TP 1 with the low of 1450 during the last fall, price has since rallied up to the 1750 range. From here we most probably will see a slight pull back before price rally for Wave 5 into the Harmonics PRZ.
Let's montior and see if this will be the trade of the year!
Comment:
Sub wave 2 of B should be at 115.68 however it does not affect subwave 3 as the minimum certia for subwave 3 has been met.