chessnut

XAUUSD short opportunity on its way.

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Here is a nice and clear abc pattern in XAUUSD. last night a third wave of C brought us to 1308. the iv(C) should turn in the iv wave area as illustrated, before a fifth wave moves up UNDER 1317. (strong stoploss level ifthe analysis is correct). I will be looking for a fifth wave weaker than the third wave, to turn around at .618 of the iii wave OR after a clear five wave fractal has broken a fresh high above 1308. Targets are potentially big.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.