Gold as I have mentioned before had two key points to look at the previous 1738 and now the 1750. As can see from chart, 1738 was merely resisted , price went down but a reversal up to hit the recent 1750. What happen now? 1750 was resisted and down it down now...current price is at 1706. What is happening? Look at the wave count, my wave count was recounted but the overall direction for gold is clear,down. This down wave will be a wave C and we have just seen how violent a wave C can be.Look at the $30 plunge in gold price....spectacular and congrats to those who have shorted ;) Cheers...my eventual target will be at 1620+ (1.618 extension of wave B) region.. Or at least wave C should be equal to wave A.Okay~ Happy trading!
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