Gold set for another bearish wave before a correction

I’m expecting gold to push down one more time before we will see the bulls taking control. It all comes from the Daily chart where it seems that the commodities is about to complete a bearish double cycle (ignoring the spike).

To zone marked in the screenshot below is where we want to see the price first of all.

Contents hide

1 Gold D1 Chart
2 Gold H4 Chart

Gold D1 Chart

Gold H4 Chart

I expect to see something like that (as marked in the image below). The last push down should form divergence on the H4 chart as well. The most conservative way to join would be to wait for the breakout of the most recent trend line, small correction and then go long.

Target 1 – 1228.00.
Target 2 – 1250.00.
Stop Loss – below last low created.

Yours,

Vladimir

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.

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View Comments

Leo says:

November 17, 2016 at 6:16 pm

Trust me, you does an excellent job.
Rian says:

November 17, 2016 at 1:37 am

Hi Vlad, thank you so much for the screenshots, really helps a lot.
michael says:

November 16, 2016 at 8:50 pm

Thanks for the quick update Vlad