I will more than happy for 
GOLD to blow past this typical running flat correction zone between 3600-3643 and head higher. However if it stalls at this zone and reverses then this is one possibility of how the wave (4) correction could to play out, one that ill be watching closely.
GOLD to blow past this typical running flat correction zone between 3600-3643 and head higher. However if it stalls at this zone and reverses then this is one possibility of how the wave (4) correction could to play out, one that ill be watching closely.Trade active
Trade still active on Gold. I actually accidentally closed my initial position, i was planning to reduce slightly, anyway re-entered long again (trades shown on the chart), but my stop is now moved to breakeven.Whether the above outlook plays out from here or an alternative view, Gold could be due some form of correction. that being said, I will probably let this trade run.
I will look to get an alternative view out soon.
Note
Updated view on the daily chart.Due to the C wave pushing higher than the typical zone I have readjusted the red and yellow fib zones. More comments on the chart
Note
Reduced my trade position in Gold at $3639. I think the correction which is playing out now will tag my entry price so partially closed to take a little profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.