FX:XAUUSD Gold / U.S. Dollar
I recently published two EW analysis of gold triangle situations. last night, gold hit the top of the smaller scale triangle, completing the 'e' wave, and now we have a primary to the down side. this suggests that a larger (C) of wave 'D' of the larger triangle is under way, targeting cerca 1200. although the scale is small regarding the primary, this trade is part of a larger high confidence set up shorting under 1305 , and on a larger scale, under 1375. targeting 1200 from here gives as astounding 1:9 risk reward ratio. I am aggressively short from 1302. To enter short, I would look for an abc to robust fib retracement as illustrated, or I would sell and hold tight on a breakout below 1292.