FX:XAUUSD   Gold Spot / U.S. Dollar
1061 30 28
After an Impulsive wave , A correction of Gold             is happening after that We will see a down move. Also Stoch is in over brought area and Price Volume divergence also found !
Comment: For the TPs of this trade, you can use Fib Ext. tool
Trade closed: stop reached
Daniel, where to you think the retracement will stop and bounce downward to our tp? -100ish pips now.
Noobsnoot Noobsnoot
Actually not 100 pips but minus 1800 pips.
Daniel-Malik Noobsnoot
its 170 pips now. but i told you to put SL above 0.618 which was hit, And SL are the part of game
Noobsnoot Daniel-Malik
Yep, it stopped at 1345, tried to hold it but it just rallies up. What a loss. Where to now?
Noobsnoot Daniel-Malik
any plan on this stage, dan?
I see a 5 wave count completing at 1346-1350 before down move. Excellent analysis though.
Been following you here and on Facebook group so learning from you. Noticed the reverse pattern on USDCAD and then came to know that you have also published the idea. :-)

Thanks for teaching.
Really nice! Where do you advise to put stoploss? And for profit target you use fibo extention levels?

Thanks for your view on this.
Daniel-Malik GatesOfCapital
I personally Dont use Stoploss. Instead of stoploss I use pending order but you can place your SL just above the 0.618 level. and yes for TP you can use fib. ext.
waterman Daniel-Malik
' I personally Dont use Stoploss. ' Atlast I find somebody like myself who don't believe brokers.
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