Good Day

Hello Everyone,

Nice to see you again. Last year we saw a strong fall after US election that eased 70% of the gain in gold and we closed the year around 1150. This means gold averaging the price around 1180 in last three years and this gives a beautiful result showing gold maintaining it's price steadily over years.

I took physical gold purchase at 1180 that's the average and stable price over years. I have an oder below 1050.

Let's discuss the price action which I expect to achieve in this week. I am expecting a correction or continuation of BEAR from 1243 area. The price range for correction and bear move should be 1243-1200-1180. I also expect this bull move should continue towards 1285-90 once we breakout 1243 level "after correction". At this moment I have seen following technical patterns and scenario

• Completed Harmonic Pattern BAT with right wing 1237
  
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• Emerging Harmonic Pattern ALT BAT with right wing 1243
  
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• Final 5th wave of C with triangle 4th targeting 1243
  
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• Emerging Harmonic Pattern Butterfly with right wing 1285 (seed stage)
  
• 

Wish you all Green pips

Komentarz:

I would like to share a diversion here. No confident to take this at the moment. But Should follow where we see weakness in Price Action.

Komentarz:

On my previous count I was expecting 4th Wave, which is not happen. Most likely the wave seems to be extended. I prefer this at the moment

Komentarz:

The bear in me is very brutal ..! Ha Ha. Just a thought. Not recomended

Komentarz:

Gold not reached the target yet.

But UJ got the target

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Wait for another idea