GOLD: Clear ranges for trading opportunities
Gold can go very fast in a short time so be ready to catch it on lower timeframes.
The daily chart shows a bullish trend but now its correction trend is valid.
The breakout of the top blue zone is required for long signals. The first take profit level is the last breakdown.
The continuation of the correction trend will be valid if the blue line is broken down. Watch out at the bottom blue zone because the price can be stuck there. If the price breaks down this zone and there is also a bearish wave system, then the profit zone is marked with the green rectangle.
The daily chart shows a bullish trend but now its correction trend is valid.
The breakout of the top blue zone is required for long signals. The first take profit level is the last breakdown.
The continuation of the correction trend will be valid if the blue line is broken down. Watch out at the bottom blue zone because the price can be stuck there. If the price breaks down this zone and there is also a bearish wave system, then the profit zone is marked with the green rectangle.