Looking at the daily chart and assuming my wave count is correct, seems gold has not completed its 5th wave.
The current place is the perfect place to go for the 5th wave and test the previous low at the same time (look at the images below)
The current place is the perfect place to go for the 5th wave and test the previous low at the same time (look at the images below)
Note
Daily view of the downtrend: Note
H4 view of the possible 3 wave correction:Note
Daily view, 27% and previous low:Note
Taking the trade on 1H
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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.