Whats Happening with XAU Pump & Dump? Understanding the Pattern!
Welcome to Profitlio Trading!
What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work.
First of all take a look on D1 structure. It is a perfect retracement while I measure the fibs on this excellent D1 Elliot waves. We have a previous retracement done up to 61.8% fib. And the current retracement is sitting in the level of 61.8% too.
Now in the 4h timeframe the Elliot wave is clearly identified. So We can see that Second wave has done its 61.8% retracement at 1722.79 Price level,
Currently we're sitting on the 4th Wave which has completed its 61.8% Retracement while we're expecting a downside push ( bearish ) As the 5th Wave to complete the Elliot Waves perfectly in style. The Expected target will be around 1660-1645 Price Level
Sketch up your own trade setup before you take off. Good Luck!
Profitlio Trading ( Since 2014 in Financial Markets )
________________________________________________
Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements.
Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
What's up traders! Thanks for Jumping back on my Analysis, Traderchamp is here on your Service, Also hit thumbs up and support the work.
First of all take a look on D1 structure. It is a perfect retracement while I measure the fibs on this excellent D1 Elliot waves. We have a previous retracement done up to 61.8% fib. And the current retracement is sitting in the level of 61.8% too.
Now in the 4h timeframe the Elliot wave is clearly identified. So We can see that Second wave has done its 61.8% retracement at 1722.79 Price level,
Currently we're sitting on the 4th Wave which has completed its 61.8% Retracement while we're expecting a downside push ( bearish ) As the 5th Wave to complete the Elliot Waves perfectly in style. The Expected target will be around 1660-1645 Price Level
Sketch up your own trade setup before you take off. Good Luck!
Profitlio Trading ( Since 2014 in Financial Markets )
________________________________________________
Traders Disclaimer: Non of our analysis or trade setups being shared here on tradingview is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trade only if trade setup meets the required criteria ( Confirmations ). Unless we will never take them as a trade if it never reach our trading requirements.
Take them at your own risk as trading is highly risky and you may loss your investments. Our trades are based on Swinging and Mid to long term approaches. All trades executed will be handled under the name of Profitlio Trading only.
