Gold is on Wave 4 as per weekly which is a correction wave.
On daily gold is doing a correction for the entire 5 wave. That is Gold is doing correction in daily and weekly.
Trying to trade gold at this time is not suggested. Let it come to further low and then got on the fifth wave as per weekly.
Gold could possibly reach the 1350 area and could rally up from there.
However, trying to figure out where the market will go is futile.
According to my view, Gold has started is C wave in daily of ABC. Once its completed look for longs.
One trick to get on the fifth wave is to look at Awesome oscillator on weekly.
Wait for the oscillator to either cross the zero line or get near the zero line. Once it starts printing green bars from there go long.
Furthermore, on daily Gold is a short as per Ichimoku. The cloud is bearish, kijun rejected the price and price is below tenkan which is again below kijun.
Ichimoku traders will consider this as a perfect short with Stop loss just above the kijun.
I think its the start of the third wave in correction C.
So one could short from here till waves 3, 4 and 5 are completed to the downside on daily. (C is a motive wave so will have five waves)
Any comments or criticism are highly appreciated.
On daily gold is doing a correction for the entire 5 wave. That is Gold is doing correction in daily and weekly.
Trying to trade gold at this time is not suggested. Let it come to further low and then got on the fifth wave as per weekly.
Gold could possibly reach the 1350 area and could rally up from there.
However, trying to figure out where the market will go is futile.
According to my view, Gold has started is C wave in daily of ABC. Once its completed look for longs.
One trick to get on the fifth wave is to look at Awesome oscillator on weekly.
Wait for the oscillator to either cross the zero line or get near the zero line. Once it starts printing green bars from there go long.
Furthermore, on daily Gold is a short as per Ichimoku. The cloud is bearish, kijun rejected the price and price is below tenkan which is again below kijun.
Ichimoku traders will consider this as a perfect short with Stop loss just above the kijun.
I think its the start of the third wave in correction C.
So one could short from here till waves 3, 4 and 5 are completed to the downside on daily. (C is a motive wave so will have five waves)
Any comments or criticism are highly appreciated.