Gold Trading Tips for today: On the daily chart, the fifth wave of the higher level (5) develops, within which the first entry wave 1 of (5) formed, the correctional wave 2 of (5) developed, and the wave 3 of (5) forms.
Now, the gold first wave of the lower level i of 3 is developing, within which a local correction has ended as the wave (iv) of i, and the fifth wave (v) of i is developing. If the assumption is correct, the pair will grow within the wave to the levels of 1919.90–2067.60. In this scenario, critical stop loss level is 1752.82.
Gold Intraday Trading Tips
|GOLD TIPS FOR TODAY|
|BUY||Long positions will become relevant during the correction, above the level of 1752.82 with the targets at 1919.90–2067.60. Implementation period: 7 days and more.|
|SELL||The breakdown and the consolidation of the price below the level of 1752.82 will let the pair go down to the levels of 1681.52–1620.43.|