đ„Gold where will it fall?
đ„Post is obviously an extension/update of my last post, if anyone wants to get a broader perspective I encourage you to read it. Link below:
đ„This time the legacy I'm playing out, I'll put it in closer perspective.
đ„But one step at a time.
đ„First, I have mapped out the uptrend channel. Of the current upward momentum. You can see that the channel was indeed very respected.
đ„Next, I plotted a fibo grid from bottom to top to find interesting levels
đ„I measured the previous downward wave using the fibo.
đ„I marked the current distribution zone.
đ„Based on the cluster of fibo levels and the fact that I do not expect a deep correction here (for more info I refer you to the previous post) I have marked a potential support zone.
đ„Based on the current peaks, the distribution level and the fact that the uptrend is not continuing today on gold, I have set a resistance zone.
đ„The scenario I am playing out is a descent to a support point.
đ„*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
đIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.đ
đ„Post is obviously an extension/update of my last post, if anyone wants to get a broader perspective I encourage you to read it. Link below:
đ„This time the legacy I'm playing out, I'll put it in closer perspective.
đ„But one step at a time.
đ„First, I have mapped out the uptrend channel. Of the current upward momentum. You can see that the channel was indeed very respected.
đ„Next, I plotted a fibo grid from bottom to top to find interesting levels
đ„I measured the previous downward wave using the fibo.
đ„I marked the current distribution zone.
đ„Based on the cluster of fibo levels and the fact that I do not expect a deep correction here (for more info I refer you to the previous post) I have marked a potential support zone.
đ„Based on the current peaks, the distribution level and the fact that the uptrend is not continuing today on gold, I have set a resistance zone.
đ„The scenario I am playing out is a descent to a support point.
đ„*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
đIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.đ
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đČ To keep up to date with all my activities I invite you to visit my Telegram đČ
đČ www.t.me/Investmatez đČ
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