Long Term View on Gold

2019년 12월 26일

Following on from my previous analysis, I have taken the starting point of the next fractal, (R/S 4) from the next main resistance level from January 2013, although R/S 5 and R/S 6 cannot be taken out of the idea I decided to take the lowest out of the three. As seen in my previous chart gold moved along the right fork, this has been projected to the next fractal with reasonable results. Just before publishing this idea I noticed another trader who's idea's I follow with interest, had just prodicted a target of 1777, with my chart falling just short, this further hightened my belief that my choise of R/S 4 was correct.