Recent price action suggests wave B has completed as a FLAT @ 1376. Wave (( a )) was a 5 wave move so while above 1306, expect another push higher toward 1340 – 1348 to complete wave (( b )) and a bearish 5-5-3 setup. Expect failure there to result in new lows toward 1246 (equal legs) target. Hourly cycles remain negative and hence we don’t like buying the metal in proposed leg higher.
If you would like to receive frequent , timely updates, stay on top of changes in short-term wave structure and be able to trade on right side of the market. Sign up for 14 day Trial to join the community of hundreds of successful traders.
It only costs $9.99 for the trial and there is no commitment to continue after that, you can cancel trial subscription at any time. We cover 25 instruments in 4 time frames with 1 hour charts updated 4 times a day. Daily videos & webinars, 24 hour chat room, trading ideas and a lot more.Back