Gold - Another Push To The Upside
For this setup we have:
- Elliott Wave minor wave 2 completion and a potential of a minute wave 2 completion (completing within the range shown on the chart) once complete will push price violently to the upside.
- Middle of Elliott Wave channel as support.
- Minor 50.0 Fibonacci retracement (Wave 2 could complete within the range shown on the chart).
Overall, there is still a lot of potential for Gold to the upside, due to the US-China trade war uncertainties and a manufacturing recession in the US which was shown to be in the contraction territory for the last 2 months. Therefore, I believe that there will be another flow to safe havens which makes Gold a great set up both technically and fundamentally.
SL: 1465.00
TP1: 1536.00
TP2: 1557.00
TP3: 1585
Enjoy!
- Elliott Wave minor wave 2 completion and a potential of a minute wave 2 completion (completing within the range shown on the chart) once complete will push price violently to the upside.
- Middle of Elliott Wave channel as support.
- Minor 50.0 Fibonacci retracement (Wave 2 could complete within the range shown on the chart).
Overall, there is still a lot of potential for Gold to the upside, due to the US-China trade war uncertainties and a manufacturing recession in the US which was shown to be in the contraction territory for the last 2 months. Therefore, I believe that there will be another flow to safe havens which makes Gold a great set up both technically and fundamentally.
SL: 1465.00
TP1: 1536.00
TP2: 1557.00
TP3: 1585
Enjoy!
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