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 !
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For the TPs of this trade, you can use Fib Ext. tool
Daniel, where to you think the retracement will stop and bounce downward to our tp? -100ish pips now.
Noobsnoot
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Actually not 100 pips but minus 1800 pips.
Daniel-Malik
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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
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Yep, it stopped at 1345, tried to hold it but it just rallies up. What a loss. Where to now?
Noobsnoot
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any plan on this stage, dan?
mrforex89
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I see a 5 wave count completing at 1346-1350 before down move. Excellent analysis though.
Flemingo
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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.
Forextra_official
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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
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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
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' I personally Dont use Stoploss. ' Atlast I find somebody like myself who don't believe brokers.