Gold is calling for more upside as i posted in my previous analysis on 06 of July that currently the price in the mid of 3rd wave of wave C
4 hours Chart (15-07-2019)
Correction of wave 4 is very noticed that it is formulating bull triangle so the best entry level to be at end of wave ((e)) . see 4H chart below.
i do prefer selected target for buyer to be between (0.618% – 100% Fibonacci extension of wave 1 i highlighted with red at the above chart , therefore you can readjust after completing wave 4.
second senario (invalidation level)
if the price break the previous wave 1 top (1344.77) it means that previous top reached on 25th of June is the end of wave C
1 hours Chart (15-07-2019)
the best place to buy gold is the equal leg of wave (a) which most properly would be located at the area between (1390 – 1400)
1- buy at ( 1390 – 1400 ), stop lose below (1344.50).
2- target profit between (0.618% – 100% Fibonacci extension of wave 1 (preliminary at 1440-1485)
3- don’t forget to move stop lose to the entry level after bouncing 50% of wave 4
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