I see gold has reached buy zone. There are 3 price levels that must be monitored shown with upside arrow. SL on 1891 area. TP can use ratio 1:2 as of now. Trade safe, use small lot if you want to accumulate on lower price level in case invalid.
I see sell opportunity with SL on 1947. Target profit can use ratio 1:2 to risk. This is good chance since for both counts: wave A has ended (yellow) or one more low for wave A (pink), indicate that price is already on sell area. Trade safe.
I see gold long opportunity with proper risk reward ration. SL zone aroung 1910. Target profit can be on Fibonacci Extention level 2.00 (1924) or Fibonacci Retracement of wave A level 1.272 (1943). Trade safe.
I see buy opportunity on gold. If we go to TF 15 and 5 mins, we can see 5 ups and 3 lows which look like impulse 1 and correction 2 to me. SL on 1909 zone and I use 1:2 ratio for target profit. Use proper ratio and trade well.
I see sell opportunity to short Gold. This is shorting on subwaves V/3, to be specific form iv/V to v/V. This trade must use SL as this is at the zone of the end of wave 3. Trade safe.
I see gold could make one more low right now, however I prefer to wait and see as I can't find a good risk-reward ratio for selling and that there is possibility that A of 2 has completed and now is entering wave B of 2. If chart goes as planned, there should be rejection on Fibonacci Retracement on 1.272 level. If not price could go lower up to 1.618 level. To be...
I still see gold in process of forming wave A of 2 with A in impulse form. Using Fibonacci Extention we can see that price is rejected on 1.236 level, therefore next sell level is on 0.764. However I use more conservative approach by measuring end of wave iv of 3 using Fibonacci Retracement on 1.618 level. Trade safe, don't forget to use proper ratio and stop loss.
I see gold has completed wave 1 (of 5 of major cycle) and begin to form wave 2. I see sell opportunity with decent risk reward ratio, with conservative target on end of wave A of 2 on Fibonacci Extension level 1.00. Remember use proper lot ratio, stop loss & trade safe.
It is possible that correction will have 535 formation, therefore I go to smaller timeframe and adjust TP to end of wave 3 on Fib Extension 1.618 level.
