Target , 🎯 69 , then 74 . Then 83
Based on Fibonacci and price action and dealing with the formed triangle, If it can pass the sensitive level of 74, it can go up to 79 and even higher , In the lower time frame, the flag pattern can also be seen, so the doge is prone to rise. , but I think it will have a collision after the resistance level and it will even go...
Gold has made descending triangle chart pattern. Take sell entry with SL @1967 near Yellow descending trend line and TP @ 1863. breakout of yellow horizontal line will confirm bearish trend ie wave c of primary trend form all time high.
gold is now in triangle correction after huge sell off.
it has got major support zone at 1453 - 1445 that has been tasted multiple time.
for fundamental reason global rescission and us election 2020 trade war agreements are still drive it higher. so there is maximum probality that gold will break out this triangle . at the end of the fourth corrective wave will...
BULLISH TRADE ENTRY IMMINENT (UPDATE)
NOTE:
I am sure there are several economic & fundamental factors at play in this pair as is always the case in all financial instruments. However, I am not considering these and are analysing price chart from technical perspective alone.
It is hard to make any long term accurate projections using any form of analysis, so...
In this chart i have contrasted 2 ways to count the recent gold's decline.
In blue there is the wave count expressed by the EWI, that went open public in a video released the last week.
In black is my view of the wave count (I hold from at least since year or so that this decline have a very significant 3)rd wave extension)
Both wave counts have the their's weak...
