Gold - Bulls should take control - Great R/R !

This move up that started in august can play out in two ways:

PREFERED COUNT :

Price finished wave (i) & (ii) and heading higher for a wave (iii) composed of a sub impulsive wave (orange) where price finished also wave i & ii, meaning we are going higher for wave iii of (iii) and price should not break this channel.

*Trade Setup :

Entry : TL or MA break
Stop : below green wave (ii) or just outside the channel
Target 1 : 1260
Target 2 : 1298 (1.618% of wave i)


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ALT COUNT :
This move was a zigzag of wave (alt) 4, wich met the minimum requirements to be said complete, in wich case we started a motive wave lower for wave 5.
Price should have no difficulties in this case to break outside the channel and head lower fast as a wave iii.

* Trade Setup :

Short Entry : on channel break
Stop : above wave ii
Target : 1121 (Fib Extension)

Handel aktiv:

Price got rejected by ed TL and went up as expected.
Entry @ 1202.
Targets remain unchanged.
Moving Stop to 1197.

Kommentera:

Move Stop to break-even & take some profits.

Kommentera:

Upcoming moves

Trade stängt: målet nått