GOLD. Rollback to the liquidity zone. The market is bullish
Gold on the hour timeframe. December 5
1) Gold rises within the channel, as we see
2) The 5th Elliott wave is still developing, a local correction is forming.
3) The price reaches EMA-50 and a pull-up may follow from it
4) If the price tends lower, it has a target - the high-density volume zone of 1784
5) The trend is upward (bottom two charts). The price keeps updating the highs
When to buy? I suggest targeting the 1784 zone. The price may test the support level by a false-break (no hurry. Waiting for confirmation) We have two targets - local 1803 and distant 1820.
1) Gold rises within the channel, as we see
2) The 5th Elliott wave is still developing, a local correction is forming.
3) The price reaches EMA-50 and a pull-up may follow from it
4) If the price tends lower, it has a target - the high-density volume zone of 1784
5) The trend is upward (bottom two charts). The price keeps updating the highs
When to buy? I suggest targeting the 1784 zone. The price may test the support level by a false-break (no hurry. Waiting for confirmation) We have two targets - local 1803 and distant 1820.
❤️ Telegram channel: t.me/AndeWave
❤️ Telegram channel: t.me/AndeWave
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