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Gold - Support Line Broken
Date: 22/04/26 Gold over the last month has been slotted in a range and we have been waiting for a breakdown of the rising trend line to help show us that gold is now willing to come to the lower end of the bigger channel and complete its correction. We've now finally broken that trend line (without triggering our SL) and gold should be looking to make its way to anywhere between 3800 - 4000. This of course is a very strong support zone, an area where we will be looking to go long once price action confirms some kind of a reversal. A further breakdown from this area would indicate that this corrective could go deeper. Those of you holding any kind of short position our SL remains the same and has been left intact. Those looking to not trade this downward corrective must wait for gold to reach our support zone of 3800 - 4000 before slowly building longs. Once any kind of confirmation is seem at these levels I will share another update on that scenario. Charts below
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Gold - Support Line Broken
Gold - Last Leg Of The Corrective
Date - 05/04 The current structure of Gold suggests that we are now approaching the final leg of the corrective. If you scroll back through our posts and updates you can clearly see that this is the structure we were building towards and patiently waiting to play out. According to the chart, Gold has finished its 4th Wave as a part of the C wave coming down. The final Wave 5 already seems to be in progress which will take us back down to around 4000 levels. Following simple Elliot rules - our stop loss for any short position being held is now 5013 which is the bottom of Wave 1. Above this price all bearish scenarios are over/paused. We will of course be looking to play out these shorts AND build a good long position once we have a reversal indication in and around the channel bottom. Chart attached below
Gold - Last Leg Of The Corrective
Update: VOO Charts
Date: 11/04 Just dropping an update on the VOO charts that we shared earlier. Even though it has taken a few months we can see that VOO prices have come down and bounced exactly from our first buy zone (bounced from 578). The chart seems to be following our discussed path. I'm attaching a chart image below with the same markings from the previous post where you can see how clearly the price has played out according to our discussion. Charts below
Update: VOO Charts
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