Gorbie
Long

GOLD (XAUUSD)

FX:XAUUSD   Gold / U.S. Dollar
903 8 28
Long from $1206—1176 area.

Expanded flat (a-b-c): c-wave             — impulsive structure.
Comment: Good reaction here. Awaiting consolidation.

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Comment: Book your profit and looking for reversal down with 3 waves at least.
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Trade closed: target reached: Booked some profit. Waiting the breakout at $1300 or reentry at $1232 area.
It's seems like triangle.
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Comment: Get the no trade zone. Further we could see any flat:
1) running flat
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2) regular flat
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3) expanded flat
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Comment: Unfolding the last one: expanded flat.
Comment: The expanded flat did the 1st wave in impulsive structure of swing (B).
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Trade active: The next target is $1438
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Comment: Entry at $1296 area.
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Comment:
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Trade active:
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Comment: Added on the dip.
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Trade active:
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Comment: Here's nice reaction from inflection zone.
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Comment: Should see 9 swings in impulsive structure of wave C of Cycle (B).
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Comment:
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Comment: Breakeven.
Comment: Waiting retracement.
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Comment: Start of the new impulsive wave.
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Trade active:
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Comment: Heading to $1483.5 at least.
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Comment: Focus on divergency between end of X and 2.
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Comment: Breakeven. Waiting 1280—1276 for new entry
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Trade active:
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Comment: Buy only
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Trade active:
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Comment: Its also can be like this
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Comment: Good reaction here
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Comment: Took profit here
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Trade active:
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Comment: Took profit at 1275
Comment: Invalidation level was broken. Heading to 1480.
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Trade active:
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Comment: Still can do another leg down
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Comment: Divergence
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Trade active:
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looks good
thanks for update bro
Reply
Gorbie Jahid
You're welcome my friend
+2 Reply
I agree
Reply
Parabolica Parabolica
Completely agree, what a pity that 1 turned out to be x
Reply
Gorbie Parabolica
The cycle B (circle) isn't over yet, should see 1586.
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+1 Reply
Good exit:
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Agreed.
Reply
Hi Gorbie, your update from a month ago, I have questions about your fibs,
1.382 = 1252.16
1.618 = 1235.02

Just curious about what points were used to stretch these fibs? Thanks!
Reply
Gorbie sandhusukhjit
I used the Fib Extension tool by these three points to find the equal legs
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Reply
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