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faris.makki

Long Gold Opportunity

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
faris.makki  
FX:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Beyond Technical Analysis Wave Analysis Gold LONG riskreward shortterm correction breakount continuation riskoff
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trendanalysis beyondta waveanalysis gold long riskreward shortterm correction breakount continuation riskoff
It appears that gold is near the end of a simple looking ABC correction, which is likely to end at around $1313. Or could extend to the previous low near $1300 and begin the rally from there.

My long term target for gold is much higher, due to both technical and fundamental reasons, than the target for this particular trade. (So I may have a bullish bias)

Buy: 1314
SL: 1299.0
TP: 1347
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Risk/Reward: 2.8
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