GOLD: My multi-year trading plan backed by TA
Aktualisiert
Gold with recent BO fr a H & S pattern seems to be stalling. I think it will be difficult for gold to break the FIB 78.6 level on its 2nd try. (RSI near overbought). It could go down again back to the 1800 mean without voiding the H & S BO.
Note my FIB EXT levels from wave 1 to wave 2 where I predict the target zone at impt ext. FIB LEVELS 2.618, 3.618 & 4.618 etc.
Zooming out, gold is also making a CUP & HANDLE where I also made the measured projection.
Still zooming out more, you can see the ultimate target of gold at 2x of its multi-year consolidation. The price of silver is just estimated to reach 46 at that 2x level of gold price.
Not trading advice but pls like & comment your opinions.
May the MARKET be with you always!
Note my FIB EXT levels from wave 1 to wave 2 where I predict the target zone at impt ext. FIB LEVELS 2.618, 3.618 & 4.618 etc.
Zooming out, gold is also making a CUP & HANDLE where I also made the measured projection.
Still zooming out more, you can see the ultimate target of gold at 2x of its multi-year consolidation. The price of silver is just estimated to reach 46 at that 2x level of gold price.
Not trading advice but pls like & comment your opinions.
May the MARKET be with you always!
Anmerkung
Btw, rising wedges is bearing & usually breaks downward. Gold is actually making a rising wedge.
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