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thenry
Aug 6, 2017 6:52 PM

Bullish or Bearish??? (Crucial Junction) Long

FX:XAUUSD240
Gold/U.S. DollarFXCM

Description

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I am still "Bullish" on Gold until proven otherwise. My "Line in the Sand" is a move below 1248.10 (Analysis Incorrect) Still believe we are in a complex correction for a "Wave 2". Will see if the 1252.00 area holds.
Trend AnalysisChart PatternsWave Analysis
Comments
JonathanSim
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Let's see if 1265 can be breached :)
thenry
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@JonathanSim, Yeah or even 1262 or 63 (Might be a tough one to crack)
JonathanSim
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@thenry, It all depends on USD becoming weaker. Unless gold itself is strong. Looks like a measured move up though
thenry
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@JonathanSim, Yeah thats right, looks more corrective.
JonathanSim
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I agree with you. I'm currently long on UJ for short term only. Set a buy limit for XAU/USD at 1252. Good luck mate
thenry
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@JonathanSim, Hello Jonathon, Good luck as well.
c1234
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I'm bullish right after nfp 1255.226. I think on Wednesday there will be a gap.

https://Https://www.tradingview.com/x/bfPPpdyE/
thenry
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@c1234, Yeah, that's a good possibility as well.
royalbengal
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lot of famous elliot analyst suggest that we are now in c wave of main B wabe .and C-2 complete and c-3 will start soon and when c-5 complete means Main B wave complete gold will drag to near 1100 for main c wave then bull run start
thenry
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@royalbengal, That is a "Definite Possibility"
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