Gold is probably in wave e of a wave B
We are anticipating the market to take support off the lower converging triangle trend line and bounce up unfolding wave C
Risk/Reward ratio is excellent on this trade i.e. 7.38
Keep a close eye on the volume for the breakout confirmation
We are bullish at this point and will only consider about bearish scenarios if the price breaks below the last swing low taking out our stop loss
Let see how this plays, Good Luck !
Disclaimer: This is only for informational purpose, people taking trades using this idea will be liable of their own loss
We are anticipating the market to take support off the lower converging triangle trend line and bounce up unfolding wave C
Risk/Reward ratio is excellent on this trade i.e. 7.38
Keep a close eye on the volume for the breakout confirmation
We are bullish at this point and will only consider about bearish scenarios if the price breaks below the last swing low taking out our stop loss
Let see how this plays, Good Luck !
Disclaimer: This is only for informational purpose, people taking trades using this idea will be liable of their own loss