Friday, February 7, 2020

The XAU/USD pair is in correction, still likely to grow Estimated pivot point is at a level of 1511
Main scenario: long positions will be relevant above the level of $1511 with a target of $1650 – $1700 once the correction has formed.
Alternative scenario: breakout and consolidation below the level of $1511 will allow the pair to continue declining to the levels of $1480 – $1450.
Analysis: Supposedly, wave (B) of senior level continues developing on the weekly time frame, with an ascending impulse developing inside as wave C of (B). Apparently, the fifth wave v of C is developing on the daily time frame, with wave (i) of v formed inside. On the H4 time frame, presumably, a local correction continues developing as wave (ii) with wave c of (ii) forming inside. If the presumption is correct, the price will continue to rise to the levels $1650 – $1700 after correction. The level of $1511 is critical in this scenario as the breakout will enable the pair to continue declining to the levels of $1480 – $1450

SELL GOLD SILVER CALL

SELL GOLD CALL GIVEN 47850 NEW LOW 47650 PROFIT 200 POINT INTRA DAY, SELL SILVER CALL GIVEN 62200 NEW LOW 61727 PROFIT 475 POINT INTRA DAY