Gold Week 13-07-2019

Weekly Chart (08-07-2019)

Gold in C correction (cycle level)

the gold is still in bullish consequences as you see at the chart wave C still in progress furthermore wave ((3)) didn’t finish till now.

 4 hours Chart (08-07-2019)

the best place to buy the gold is determined at that chart. we are waiting wave 4 at Fibonacci retracement level 38.2% or the equal leg of wave ((a)) that will end at wave ((c)) as marked at chart below. 

conclusion:

1- buy at (1374.876), stop lose at (1335.086), and take 1 profit target at (1453.732).

2- don’t forget to move stop lose to the entry level after bouncing 50% of wave 3 – 4

Risk Disclaimer

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

elliottwavelive

Expert trader integrate powerful of Fundamental analysis and news with distinguish of Elliott wave technical analysis for excellent trade setups.

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