Gold - Clearer Path · Investor Edge Club

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Gold - Clearer Path

Date: 09/07

From our last post we had highlighted a bullish as well as bearish scenario for Gold. At the moment prices have reversed and price action is leaning in more towards our bearish scenario.

So according to this scenario - where do we stand?

Gold price seems to be moving down to complete its 3rd wave of wave C. This 3rd wave is to come down as an impulse - here we are currently in wave 5 with the current pullback being marked as the 4th save of this impulse. Once this 3rd wave completes we can expect another pullback - one that is possibly longer drawn in both terms of price as well as time before a final 5th wave on the larger scale coming down towards 3600 - 3400 levels depending on where our 4th wave ends.

Golds strongest and biggest rally is meant to follow this correction. They won't make it easy to catch the reversal. We need to be sharp and ready with all different scenarios 🚀💪

Attaching 4H and 1H charts for clarity below

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Gold - Clearer Path