According to my previous analysis, the graph significantly shows that it is zigzag correction as expected due to the fact that wave "blue B" retraced only 0.618 of wave "blue A". Therefore, the next possible move of the gold price is the movement from wave "blue B" to wave "blue C". In my opinion, wave 1 in blue B --> blue C has already ended, so now we are waiting for wave 2 in blue B --> blue C. Personally, my target price to start opening my short positions is around the grey box area which is from 0.382 to 0.618 fibonacci level of wave 1 in blue B --> blue C. My target price is still the same as my previous analysis which is around 1722.
*Don't forget to do MM and also adjust your stop loss!!
**Not a financial advice
Best wishes,
sillyFACE
*Don't forget to do MM and also adjust your stop loss!!
**Not a financial advice
Best wishes,
sillyFACE
