I did post a idea that gold will hit weekly trend line( red) soon.
Seems like its really coming, and gold is strong and did not give us a pull back like we expected.
Ok, back to chart.
Channel ABC is still here, as you can see.
And we having some trouble in the second wave which is the red ABCDE inside the blue typhon which know as a expand wedge.
Gold just happen to hit it again.
Considering this is a complicated main wave 3 to hit the week trend line and wave 5 will coming soon after a real correction back down to 1260 which is a clear support to us and wont change the fact that gold still staying save inside the ascending channel.
So, now is the plan!
a. LONG PLAN 1. TAKE A RISK TO LONG GOLD FROM THE MAKRET PRICE RIGHT NOW. TP IS THE WEHN GOLD HIT THE WEEK TREND LINE, AS FAR AS WE CAN SEE NOW IS 1282-1290.
2. wait till gold back to around 1260 (buying zone), then long trade enter. this time we want to see 1300.
b. SHORT PLAN waiting signals around 1282-1290 tp 1260-1270
Pls check my old idea below.
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We waiting for short trade signal.
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I think the short plan is coming earlier than we plan 2.