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OwenMohd
Jan 13, 2020 10:03 AM

Gold Correction Play (Mid-Jan 2020) 

Gold/U.S. DollarFXCM

Description

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
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