GOLD continues to be a strong buy. Will update.
Please see previous analysis for further information.
Cheers.
AB
Note
1 Hour Wave Count:Note
6 Hour View:Note
First of all, in a converging diagonal triangle, you will notice that the third wave will be shorter than the first wave, and the fifth wave will be shorter than the third wave. You will also allow the overlap of wave 1 by the fourth wave.Note
If they occur in the first wave position (Above), where they are known as ‘leading diagonal triangle’, the internal waves are made up of 5-3-5-3-5 sub waves.Note
Gold has serious legs here do to the disruption that will be occurring in fiat currencies...The Ultimate Effect of Quantitative Easing will be/is the devaluation of all fiat currencies...
Note
Daily Chart:Trade closed: target reached
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Disclaimer
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.