Technician
Long

Gold: Aiming for a Bullish Rebound

FX:XAUUSD   Gold / U.S. Dollar
877 8 12
Update: I cancel this trade, I prefer to wait for more confirmation for now.

If wave count is correct, it might be the end of an ABC             correction, at the 50 percent Fibonacci of the overall bullish wave from 1178 to 1392 at 1285 level.As price forms a ending diagonal . Initial reaction was rejection, and thus am taking a long shot with a tight stop loss.
Note: this is a counter-momentum risky trade.
***Correction: Ending Diagonal not leading, excuse me was in a rush.

Good Luck, join me at :

https://twitter.com/thefxchannel
thefxchannel.com
-------------------------------------------------------
Still Active Trades:
EURUSD: Pulling The Short Trigger!


Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)

Latest trading ideas: https://www.youtube.com/channel/UC02s7uiUQl55HkhHZDM6eUw/videos

Free Telegram Channel: https://t.me/technician_forex_trades

Trading Signals Redefined: https://thefxchannel.com
Update: I cancel this trade, I prefer to wait for more confirmation for now.
Reply
I'm going to hold back on this one and wait to see if it retests 1285, if it gets rejected again and bulls break 1300 I will go long.
Reply
Technician TOP the_one_that_got_away
Good Idea to wait for more confirmation , good luck
Reply
***Correction: Ending Diagonal not leading, excuse me was in a rush.
Reply
Have you already enterred this position or waiting for the pullback?
Reply
Technician TOP Kumowizard
No I haven't really, looking to enter lower if i get the chance to.
Reply
Kumowizard PRO Technician
ok, thx. I hv been chasing this rebound trade myself for a while too. Except taking my focus away from some better setups on other products, it did not bring me too much luck. But also on my daily setup it looks finds some support at 1285. Either 1288 or on the break above 1300 I will try to enter. Good luck frd!
Reply
Technician TOP Kumowizard
Good luck
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out