After the recent rally, GOLD appears to have completed its impulsive structure. In my current view, the V / (5) wave has likely ended, and an A-B-C corrective phase has begun.
At the moment, price is developing the (A) leg of the correction to the downside. The 4,600 – 4,650 zone stands out as a key decision area.
This zone represents:
Prior structural base
Demand zone
Fibonacci extension confluence
If this area holds and buyers respond, a (B) type corrective rebound may unfold. I would still treat such a move as a corrective reaction, not a continuation of the main trend.
If price establishes acceptance below this zone, the correction may extend into the (C) leg, opening the door for lower levels.
For now, I remain patient and focus on how price reacts around this key area.
At the moment, price is developing the (A) leg of the correction to the downside. The 4,600 – 4,650 zone stands out as a key decision area.
This zone represents:
Prior structural base
Demand zone
Fibonacci extension confluence
If this area holds and buyers respond, a (B) type corrective rebound may unfold. I would still treat such a move as a corrective reaction, not a continuation of the main trend.
If price establishes acceptance below this zone, the correction may extend into the (C) leg, opening the door for lower levels.
For now, I remain patient and focus on how price reacts around this key area.
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Detaylar ve iletişim için arctraded.com
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.