Der Captain zum gestrigen Freitag, dem 13.08.21 :
Short Term Update:
Gold was lower in yesterday’s day session reaching a low of 1742.80.
In the overnight we have moved higher reaching a high of 1763.20!
As you can see on our updated Daily Gold Chart, our large wave .iv. of -iii- bullish triangle is now expanding and extending.
Within that triangle it now looks like all of wave *c* ended at the 1675.90 low and if that is the case then we have started to rally higher in wave *d*.
Remember that legs of triangle formation are full of overlapping waves, so the internal wave structure is sometimes difficult to micro-analyse in real time:
It is impossible to know how high wave *d* will go, but it should at least reach our upper red trendline of our triangle formation. It could go as high at the wave *b* high of 2089.20!!
After wave *d* ends we expect another drop in wave *e* to complete all of this large wave .iv. bullish triangle.
Trading Recommendation: Long gold. Use puts as stops.
Active Positions: We are long, with puts as stops!
Jamie Dinamo, nicht nervös werden !
Liebe Grüße