Wave-Trader
Long

XAUUSD is setting up for reversal buy the breakout

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi there,

Gold is setting up for reversal. There is very good potential for upside. If you are not in from bottom on our last trade setups than watch bottom for buy or buy the breakout.

If you are looking to buy before the breakout then make sure you understand the price action before you trigger the buy because it can breakdown and can continue for one more bearish wave. If so then wait for the bearish correction before you start to sell the gold for one more wave down.

If we are going to see strong break up then you can even hold your trade for longer term for up side because potential is huge for upside For that please have a look on my bigger time frame trade setup in the related idea section.

Good Luck

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Comments

Welp
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Completely agree on the Triangle breakout. This is most likely a long opportunity:

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Thanks man
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Thanks a lot for your analysis, I have been watching Gold for the past 2 weeks, and I am waiting for buy opportunity to buy on daily time frame. What's your view on daily tf?
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stevegong samuelkken
@samuelkken, no disrespect to but good luck if he replies.
Hope this post encourages a reply for you.
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Wave-Trader samuelkken
@samuelkken, Check my bigger time frame chart.
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