OwenMohd

Gold Correction Play (Mid-Jan 2020)

OwenMohd Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Gold is back in correction mode before trend resumption, so there are 2 tradable paths. I'm assuming this correction won't be as slow moving as Sep-Dec 2019 correction. IF it is slow, this ABC plan will fail. I'm reasonably confident a bounce here off 1546 ought to break 1563 local high. Flexibility and speed are needed here and the TPs can change.
Trade closed manually:
Different pattern formed.
Order cancelled
Trade active:
Comment:
This is more accurate so there's no surprise if WXY becomes WXYXZ:
Comment:
Fighting the blue line support

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.