Based on recent price movement we could say that blue wave 2 of a higher degree could be finished and that a new bullish cycle has started to unfold into blue wave 3. Currently we see price trading in the middle of red wave 1), specifically in black wave 4 after recently completing black wave 3 with five minor sub-waves. As such traders now want to be aware of a minor corrective reversal taking place in sessions to come.
Temporary invalidation levels is at 1333.
GOLD, 4H
Comments
Log in or sign up to join the conversation.