The previous 5-wave pattern still valid even after the price huge jump to 1702 due to the Saudi Arabia oil impact.
In the day time, Gold dropped to 1657 formed new A and thenback to 1685 and then remain in the congestion area, between 1660 - 1685.
It looks like forming a triangle to me and now in the way of small (c).
For trading ideas, I would do these for scalping:
buy at 1660 -1665, tp at 1685.
short around 1682-1685, tp 1665.
stop loss for 3-5 usd or till the breakout for the trendline.
and open another short around 1685 (as the assuming end of B of the big correction wave) and tp 1641.
In the day time, Gold dropped to 1657 formed new A and thenback to 1685 and then remain in the congestion area, between 1660 - 1685.
It looks like forming a triangle to me and now in the way of small (c).
For trading ideas, I would do these for scalping:
buy at 1660 -1665, tp at 1685.
short around 1682-1685, tp 1665.
stop loss for 3-5 usd or till the breakout for the trendline.
and open another short around 1685 (as the assuming end of B of the big correction wave) and tp 1641.
Trade active:
Trade open: 1685
Trade closed: target reached:
Plan to close at 1667. profit 18 USD
Trade active:
Buy opened at 1664. current price: 1671
I will see what I will get in the end.
I will see what I will get in the end.
Trade closed: target reached:
I closed my 1664 buy at 1674 cuz I need to go sleep now and won't keep the position open during the night.
I put a sell limit on 1683 1684 1685 with 5 USD SL. I will see what I may get tmr.
Good luck for everyone
I put a sell limit on 1683 1684 1685 with 5 USD SL. I will see what I may get tmr.
Good luck for everyone
