Positionally, I expect Gold to move upside with base support at 25755.
If Gold crosses 27940, then up move only.
Currently, Gold is in Correction. Retracement levels are: 27431[completed], 27298, 27105, 26848, 26591, 26396, 26270, 25755 (100%).
Reversal from any of these levels, my positional 1st target is 27940.
My Positional Upside targets are: 27940, 28452, 28774, [29285], 30124, 30838, 31467.
My ideal target is 29285.
Stop loss will be calculated after the end of this correction. For now Stop Loss: 25700.
Based on smaller timeframe Charts,
Up Move:
I expect small up move with base support of 27400 targeting 27595, 27641, [27715].
Upside retracement levels are: 27528, 27606, 27670, 27734, 27824, 27940(100%).
My ideal target is 27715.
Up move Stop Loss: 27450/30 or 27390/27375.
Down Move:
If 27940 restricts, we may see down move. After the above up move, I expect a down move targeting 27400, 27274, 27196, 27068, 26685, 26530.
My ideal target for down move is 27068.
Down Move stop Loss: 27950/60/75.
Note: targets must be calculated 20pts +/-.
ABC Correction based on 1H Chart
Minimum target of abc correction/retracement is already completed at 27560, 27456.
Normal retracment of abc correction is between 38.2-61.8%.
So there is a possibility of 27105/26848.
Need to wait n watch. If Gold crosses 27940, we can 100% confirm that correction got over at 27400.
If Gold crosses 27940, then up move only.
Currently, Gold is in Correction. Retracement levels are: 27431[completed], 27298, 27105, 26848, 26591, 26396, 26270, 25755 (100%).
Reversal from any of these levels, my positional 1st target is 27940.
My Positional Upside targets are: 27940, 28452, 28774, [29285], 30124, 30838, 31467.
My ideal target is 29285.
Stop loss will be calculated after the end of this correction. For now Stop Loss: 25700.
Based on smaller timeframe Charts,
Up Move:
I expect small up move with base support of 27400 targeting 27595, 27641, [27715].
Upside retracement levels are: 27528, 27606, 27670, 27734, 27824, 27940(100%).
My ideal target is 27715.
Up move Stop Loss: 27450/30 or 27390/27375.
Down Move:
If 27940 restricts, we may see down move. After the above up move, I expect a down move targeting 27400, 27274, 27196, 27068, 26685, 26530.
My ideal target for down move is 27068.
Down Move stop Loss: 27950/60/75.
Note: targets must be calculated 20pts +/-.
ABC Correction based on 1H Chart
Minimum target of abc correction/retracement is already completed at 27560, 27456.Normal retracment of abc correction is between 38.2-61.8%.
So there is a possibility of 27105/26848.
Need to wait n watch. If Gold crosses 27940, we can 100% confirm that correction got over at 27400.
