Gold Rally Is Imminent How Prepared Are You ~ signals of forex trading
Since 2011, Gold has been on a free fall from $1920.5 per ounce and now, only been supported by a psychological $1000 price level.
I labelled the rise to $1920.5 a 5-wave impulse.
From a larger forecasting point of view, Gold might still fall in the future to $671.11 after an expected rally to $1450-1500 price levels. All these will be, if the correction from $1920.50 will be a deep or complex zigzag corrective pattern.
Of course, we can always adjust our analytical forecast as price determines evolving patterns.
Right now, what we see is a clear 5-wave fall from $1920.50 which is labelled as the first leg of the correction of the impulse wave that ended in September 2011.
The weekly chart below shows this clearly.
The second leg, a prospective 3-wave rally, is expected to end around $1450-1500 price levels.
More so, the fifth wave of the impulse dip from $1920.50 is a clear ending diagonal pattern which gives us more confidence as to the expected rally. This is shown in the daily chart below.
$1000, a psychology price level, is expected to hold as a support. A dip below it could hamper the price of Gold going up.
A break above $1100.35 should trigger a long trade as price is expected to break above $1193.7 and to $1300.46 in the medium term.
Send your request to Forexmaster05@yahoo.com
I labelled the rise to $1920.5 a 5-wave impulse.
From a larger forecasting point of view, Gold might still fall in the future to $671.11 after an expected rally to $1450-1500 price levels. All these will be, if the correction from $1920.50 will be a deep or complex zigzag corrective pattern.
Of course, we can always adjust our analytical forecast as price determines evolving patterns.
Right now, what we see is a clear 5-wave fall from $1920.50 which is labelled as the first leg of the correction of the impulse wave that ended in September 2011.
The weekly chart below shows this clearly.
The second leg, a prospective 3-wave rally, is expected to end around $1450-1500 price levels.
More so, the fifth wave of the impulse dip from $1920.50 is a clear ending diagonal pattern which gives us more confidence as to the expected rally. This is shown in the daily chart below.
$1000, a psychology price level, is expected to hold as a support. A dip below it could hamper the price of Gold going up.
A break above $1100.35 should trigger a long trade as price is expected to break above $1193.7 and to $1300.46 in the medium term.
Lets alert you of high confidence trade set ups. Join a group of happy traders who have been receiving our trade signals both free and premium. We made over 2000pips last month.
More info for Gold Rally Is Imminent How Prepared Are You ~ signals of forex trading:
