Hey Guys,
I already posted a chart on XAUUSD recently.
Here's just an update of the same analysis and my view on 1H chart.
Gold did not brake the main structure to go downtrend, it broke the buy set up with a charp impulse.
No we are having a corrective structure that will probably develop into another similar impulse to reach upper trendline.
My forecast is the following. Somewhere between the 38.2 and 78.6 will be the point where the new impulse will take place.
Will see how the corrective structure develops but I am sure about these forecast.
Carlos
I already posted a chart on XAUUSD recently.
Here's just an update of the same analysis and my view on 1H chart.
Gold did not brake the main structure to go downtrend, it broke the buy set up with a charp impulse.
No we are having a corrective structure that will probably develop into another similar impulse to reach upper trendline.
My forecast is the following. Somewhere between the 38.2 and 78.6 will be the point where the new impulse will take place.
Will see how the corrective structure develops but I am sure about these forecast.
Carlos
Comment:
Okay it looks like a nice BUY set up now, trade the flag uptrend!
Trade closed: target reached:
Perfect long trade. Now planning the sell after we touch trendline
