Bullion Trading Tips: Gold Wave Analysis for Today [21-01-2022]

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.

Bullion Trading Tips: Gold Wave Analysis for Today [21-01-2022]
Bullion Trading Tips: Gold Wave Analysis for Today [21-01-2022]

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.
Alternative Scenario
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.

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