Gold daily wave analysis ...sell setup
On the macro level, gold have been in a corrective wave ABC (5-3-5) after its primary 5th wave. The market have formed wave A and B and currently on the wave C which is a 12345 wave pattern. Within the 12345, price have formed the wave 1 and 2 and currently on wave 3. Going down to daily we could see a sub corrective wave after a 12345 and price is just forming its wave A of ABC correction.
Currently we could see price form a rising wedge pattern ABCDE, and expecting a little bullish move to end the E of ABCDE before we go in for a good sell. For now i will scalp my buys and wait for sell setup to complete.
Currently we could see price form a rising wedge pattern ABCDE, and expecting a little bullish move to end the E of ABCDE before we go in for a good sell. For now i will scalp my buys and wait for sell setup to complete.
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