GOLD LONG
In a clear up trend.
In its fourth wave of elliots wave to the downside, we have a strong buy zone where two strong fib levels are relatively close to each other. We have the cross over of a support zone and the trend line as well. So take into consideration of the strong PRZ (Price Reversal Zone) which is acting as our support, lines up with the trend line and the two Fibonacci levels and what looks to be the final push of elliots wave when it hits that level then its indicating a strong buy. I am personally going to wait for a candlestick print on the support zone to give it 5 confirmations before entry. Stop is about 600 pips and TP is about 1800-2000+ so risk to reward is 3:1
In its fourth wave of elliots wave to the downside, we have a strong buy zone where two strong fib levels are relatively close to each other. We have the cross over of a support zone and the trend line as well. So take into consideration of the strong PRZ (Price Reversal Zone) which is acting as our support, lines up with the trend line and the two Fibonacci levels and what looks to be the final push of elliots wave when it hits that level then its indicating a strong buy. I am personally going to wait for a candlestick print on the support zone to give it 5 confirmations before entry. Stop is about 600 pips and TP is about 1800-2000+ so risk to reward is 3:1
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