Gold is very slow these days and quite tricky
on the 4h or even daily chart. In situation like this we need to focus on time
frames where structures are cleaner. We are looking at the 30min chart below
where we have two contracting trend-lines that form a shape of a triangle.
market could make a wave (e) pull-back to 16808 before market turns up, towards
1700.
Any intra-day long positions should have stops beneath 1683 invalidation level.
Any intra-day long positions should have stops beneath 1683 invalidation level.
Get more analysis and Elliott Wave forecasts directly from www.ew-forecast.com . Get free access now through 7-Day Trial Offer.
You can also follow us on twitter @ewforecast
