FullTimeTrader
Short

XAUUSD-Decisive moment-Trading the ZigZag

FX:XAUUSD   Gold Spot / U.S. Dollar
1399 10 24
According to my previous long term analisis:


I assume gold             is develong a long term ending diagonal , a 3-3-3-3-3 structure with internal ABC patterns.

The price now is about to break this level o may be we can have some rebound.

So, I will trade the last zigzag putting a sell stop order below the (A) level.

Targets are 1.27 and 1.61 fib projections.

Best regards
I think B is incomplete, maybe a flat pending C up.
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FullTimeTrader IvanLabrie
Hello, if we assume its an ending diagonal, according to EW rules the internal subwaves can be only zigzags or multiple zigzags structures. In this case this scenario is possible
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IvanLabrie FullTimeTrader
Really longterm projection. I think it'll go up now, I don't what know what it is.
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tcas IvanLabrie
The same view. I'm in long from 1140 and 1132
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I closed my long, was part of a spread trade (long gold/short gbpusd).
Made 0.5% and just booked profits before the close.
I think the low isn't clean enough to be a new impulse wave 1 low.
Looks like a very small timeframe fourth wave triangle there.
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FullTimeTrader IvanLabrie
This is a good analysis, i think the most probable alternate scenario, but it think the price will go lower next days
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We may soon see the retreat. We reached 1.414% 05/01/2015 13:00 H4 candle
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This trade is on D1 chart, my plan is to open sell orders below the (A) level, better on daily close.
+2 Reply
You disappeared and came back with tons of EW. Congrats!
Reply
FullTimeTrader YuzukiChan
Glad to see you again, i was studying some EW, its a little overwhelming, time consuming but interesting.
+2 Reply
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