I would just like to point out that AU is about hit a huge pitchfork and major .618 retrace of the large WXY pattern that it completed on the weekly. When I zoom in as I did here, you see a 5 wave.. Wave 3 is extended, so I would expect a short wave 5. Equal length to wave 1 basically takes you right to the .618 barely breaking pitchfork. As far as profit targets, there are some different things that can happen here. It could go up a lot forming some structure, it can also just continue down trend but I would expect a reaction from this area. This is more about trying to time a low risk entry and seeing what happens.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.