XAUUSD in triangle down, one more leg up before short.

19 พ.ค. 2014

It seems that gold is bearish in the coming months from an EW perspective. Unless wave C is a failed wave C, it appears we are in a wave IV bearish triangle. on a smaller scale, we have a triangle about to break down to around 1200 as 'b' of an abc. buying at 1200 is risky and better to wait for a good short opportunity under 1375, targeting around 1000 for wave V. wave V will mark a fantastic long opportunity for a long term trade.