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Gold entered a bullish pattern with an impulse Wave #1 and pullback Wave #2 to the FIB .618.
Followed by a continuation Wave #3 and a pullback Wave #4 to the FIB .382 level.
What has followed is a very strong Wave #5 towards recent highs or possible resistance.
We are currently in the 5th Wave of the 5th Wave which should end at or near the recent highs.
Possible trades could be taken as a short position with confirmation at or near resistance OR wait for the pullback ABC and enter Long for a continuation higher.
Gold entered a bullish pattern with an impulse Wave #1 and pullback Wave #2 to the FIB .618.
Followed by a continuation Wave #3 and a pullback Wave #4 to the FIB .382 level.
What has followed is a very strong Wave #5 towards recent highs or possible resistance.
We are currently in the 5th Wave of the 5th Wave which should end at or near the recent highs.
Possible trades could be taken as a short position with confirmation at or near resistance OR wait for the pullback ABC and enter Long for a continuation higher.
