ðĨGold where will it fall?
ðĨPost is obviously an extension/update of my last post, if anyone wants to get a broader perspective I encourage you to read it. Link below:
ðĨThis time the legacy I'm playing out, I'll put it in closer perspective.
ðĨBut one step at a time.
ðĨFirst, I have mapped out the uptrend channel. Of the current upward momentum. You can see that the channel was indeed very respected.
ðĨNext, I plotted a fibo grid from bottom to top to find interesting levels
ðĨI measured the previous downward wave using the fibo.
ðĨI marked the current distribution zone.
ðĨBased on the cluster of fibo levels and the fact that I do not expect a deep correction here (for more info I refer you to the previous post) I have marked a potential support zone.
ðĨBased on the current peaks, the distribution level and the fact that the uptrend is not continuing today on gold, I have set a resistance zone.
ðĨThe scenario I am playing out is a descent to a support point.
ðĨ*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðĨPost is obviously an extension/update of my last post, if anyone wants to get a broader perspective I encourage you to read it. Link below:
ðĨThis time the legacy I'm playing out, I'll put it in closer perspective.
ðĨBut one step at a time.
ðĨFirst, I have mapped out the uptrend channel. Of the current upward momentum. You can see that the channel was indeed very respected.
ðĨNext, I plotted a fibo grid from bottom to top to find interesting levels
ðĨI measured the previous downward wave using the fibo.
ðĨI marked the current distribution zone.
ðĨBased on the cluster of fibo levels and the fact that I do not expect a deep correction here (for more info I refer you to the previous post) I have marked a potential support zone.
ðĨBased on the current peaks, the distribution level and the fact that the uptrend is not continuing today on gold, I have set a resistance zone.
ðĨThe scenario I am playing out is a descent to a support point.
ðĨ*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ
ðē To keep up to date with all my activities I invite you to visit my Telegram ðē
ðē www.t.me/Investmatez ðē
ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ
ðē To keep up to date with all my activities I invite you to visit my Telegram ðē
ðē www.t.me/Investmatez ðē
ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ