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It's now we analyze the chart using "KG Wave"
But if considered from the point C 1204.48 to the current price, then the waves that form wave patterns seen already shaping Up. And Wave Pattern Up from point C will be failed if price able to move below the price of 1204.64. Yesterday on Thursday successfully recorded the highest price of gold at 1222.42 at the Tokyo session, and then the price moves back down and hit a session low of 1208.74 in London. Observing the current move down based on the movements that occurred yesterday of 1222.42 points, then I can conclude that the current gold was in the area between 1208.74 and 1219.04 Sideway.
Based on the earlier wave pattern approach 1223.35 points and 1204.64 points is a benchmark that can be used to determine where the next trend of the movement of gold. That is, if the price moves above 1223.35 then in view of point B wave patterns that occur will form a wave pattern Ride, and this would certainly increase the probability the price to move up to point B or maybe even higher. Conversely, if the price moves below 1204.64, then in view of point C wave patterns that occur will form a wave pattern down, and also means that the probability for the price to move towards point C may be lower or greater.
Similarly, analysis today hopefully useful and help your strategy today, and I also hope that you all want to spread the link of this analysis in social media you use. Thank you.
Tokyo Session – Gold Analysis, 03-10-2014
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Oleh
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