Daily Analysis on Gold Futures (GC) by ThinkingAntsOk
Use this as a guide to develop your view of the chart.
a)Our Main analysis on Gold is the Elliott count (12345) with a remaining 5th towards the Fibo extension at 1640.
b)Currently, we forecast a correction similar to the previous one on the chart
c)We will wait for a clear shape before developing new trades on Gold
d)Our objective is to catch the next motive way towards 1640 with a risk-reward ratio equal to or higher than 1.5
e)By the moment we will keep waiting until this formation is clear enough to start thinking on the long setup.
a)Our Main analysis on Gold is the Elliott count (12345) with a remaining 5th towards the Fibo extension at 1640.
b)Currently, we forecast a correction similar to the previous one on the chart
c)We will wait for a clear shape before developing new trades on Gold
d)Our objective is to catch the next motive way towards 1640 with a risk-reward ratio equal to or higher than 1.5
e)By the moment we will keep waiting until this formation is clear enough to start thinking on the long setup.