Apr 5 • Charts + Analysis 📈📊
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
5
9 comments
Gold - Last Leg Of The Corrective
skool.com/investoredgeclub
Clarity. Confidence. Wealth. Proven trading & investing foundations with Elliott Wave insights
Leaderboard (30-day)
1
+3
2
+1
3
+1
Powered by