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Koch0617
Nov 28, 2019 12:00 PM

Advanced Wolfe Wave Analysis real time Education

Gold Futures (Dec 2019)COMEX

Description

If you followed my posts from yesterday, you'll see that I was looking for another bearish WW to form.
WW contracts overall were down -$350 this AM (Africa time).
Follow the numbers and see that my first choice for WW 4 retraced back to a double bottom.
This made me suspicious and so I looked for another WW (orange numbers). Even though I sold at that point.
Made pt 5 but on very weak volume - 6 contracts, then made a double top with volume up to 33
Still suspicious, then on 15 min TF noted a smaller WW requiring only one tick to complete.
When it reversed at 1457.30, I sold another contract at 1457.0. Volume peaked.
As I write this price is at 1456.0 - chart lags by 10 minutes. Volume picking up look for another retrace.
My down -$350 is currently -$38
Last post of the day.
Lessons learned
1. Trade only one item with care
2. Incorporate volume into WW analysis
3. Always expect a retrace, which may go to 0.786, 1.0 or even 1.27 - I'm still watching for one in this trade

Thanks for listening

Comments
Layne_LV
Keep up your hard work!
Layne_LV
Remember less is more
Layne_LV
Hey buddy, you have a lot going on there.
Koch0617
@Layne_LV, any ideas to improve posting welcome. just trying to show real time mmy thought processes.

see if 1455 stays support or becomes resistance
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