Gold: Long On A Possible Risk-Aversion Spike

FX:XAUUSD   Gold Spot / U.S. Dollar
695 10 8
Update: first target hit
Update: closed second half at 1258 following the major rejection today.
Profit(pips)= 230+160=390

I expect gold             to spike higher on risk aversion . The short term technical picture has improved significantly as well, as i discussed in my previous analysis.
This is a risky trade and may not work, but as the upside potential is really big i would be happy losing :)
Profit(pips)= 230+160=390
reverse the trade? short
Technician PRO QuantitativeExhaustion
Possible, I will see how price closes today, if we maintain current levels or lower, that would be a good short coming :)
Technician PRO Technician
what do u think?
Keeping us updated on SLV published chart. As far as EW counts.. still thinking truncated 5th wave corrective failure, so one more bottom for silver, but not lower than June low last year.
I closed the second half at 1258 following the major rejection
Thinking 1230 will be revisited.
Update: First Target Hit, moved stop loss to break-even
Damn... nailed that one! Nice work, keep it up :D
Trade is active now
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