Gold Update Emerging Intraday Ending Diagonal ~ forex trading ea reviews
As part of the bullish reversal in Gold, I discussed an end of wave 5 formation on 11th November and I followed it with a buy order which went well.
I posted intraday price updates on 13th November and 17th November which all went well to support the bullish move.
The general trend is still down. The recent bullish move is a typical ABC correction format and in short time, price should crash downward.
Presently, the C leg of the ABC correction is forming an ending diagonal which should complete at resistance zone (1210- 1230), a 161.8% extension of A from B.
If price gets to this region and breaks below the support zone of the diagonal, then we could see a real move downward in a 5-wave motive move to 1000.
I will update you here as we get more action from price
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