nahidik
Long

XAUUSD a little more down and a bigger move up

FX:XAUUSD   Gold/U.S. Dollar
698 4 18
9 months ago
Gold             is retracing back to a strong area of support which coincides with the .618. I would not be afraid to take a long position here. If we get a fast move up we could either be finishing the A-B-C or perhaps we have a 5 wave structure.
A shallow move away or a break below the trend line could indicate a much bigger correction.
The MACD and Awesome Oscillator are very similar. The AO is slightly more reactive which will give you more crossovers but also a little more lead time to get into trades.
9 months ago
Comment: Picture perfect trade with 180 views and 2 likes. I have seen top traders get 100 likes on a trade after they stop out lol. No worries lets see what tomorrow brings us for trades.
catrionaforex PRO
9 months ago
Great prediction, Well done!!
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nahidik PRO catrionaforex
9 months ago
Thanks
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forged
9 months ago
Gold is right at 1315 resistance weekly closing. Is gold is going to try 1345 again or it is going to retrace down next week?
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nahidik PRO forged
9 months ago
I think we have to let things shake out a bit. The key for me is knowing I don't have to make a trade or predict the future. I try and let the trade set up come to me, if you know what I mean. If the trade is not there I don't want to force it. I usually lose when I try. That being said technically I believe there could be more downside on a weekly trend to create a "Z" wave. Fundamentally the Bexit and concerns about the US debt etc. indicate things could be messed up for a while which leads to safe harbors. I will look for a break of the weekly trend line and a correction staying above the line and then look for more long.
Right now I don't have a trade setup but will see what comes up in the next few days or weeks. Hope that makes sense to you.
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