It's always fun to trade the gold using EW strategy. I opt a bearish option on EW and kept the bullish as alternative. The reason, I didnot see continuation of bull momentum. If we are bull the current wave should be 3rd wave. Price never range in wave 3, Triangle will not be seen in wave 3. Resistance should cut like butter in wave 3. "Are we in bullish wave 3?" I myself asking this question several times. The answer I got "NO"
Then what's next? where is the support? How long it will take? Here we go..! We completed daily bullish cycle which last around 233 days. We are in bearish cycle structure. It never be too fast because the ultimate angry face of bear is not yet shown. We have time to range. I am waiting for the next bullish support where bulls should march to slaughter machine
The expected price range and time durations are marked in the chart. Have green pips and trade the range with confidence :)
Then what's next? where is the support? How long it will take? Here we go..! We completed daily bullish cycle which last around 233 days. We are in bearish cycle structure. It never be too fast because the ultimate angry face of bear is not yet shown. We have time to range. I am waiting for the next bullish support where bulls should march to slaughter machine
The expected price range and time durations are marked in the chart. Have green pips and trade the range with confidence :)
