EverythingForex

If I Told You Gold Is In A Bull Rally, Would You Believe Me?

FX:XAUUSD   Gold Spot / U.S. Dollar
Given that Gold just took a nosedive, I'm guessing that maybe you will find it hard to believe me about Gold being bullish . Well, we just closed 2 LONG trades we had open in Gold when it hit our stop profits for a banked total of +324 pips 2 trades combined. So by following our analysis that told us to BUY back 2 weeks ago, we just profited on the fact that my analysis says that Gold is now in a bullish phase. So is it?

Take a look at my most recent analysis on Gold following this drop and stop out of our trades in profit. Whenever any of my trades gets stopped out whether in profit or not, I always look to learn from why the trade got stopped out and is I need to change my outlook.

So to get to the point, no, my outlook has not changed just due to "little" drop we just saw take place. We still see it as bullish . And in fact, if my wave count is correct, then what I am looking to do is to wait out this "little" drop and see how far it goes and if the price action tells me that my wave count is correct, I will be looking to BUY into what would be a wave ( iii ) of 3! The "wonder to behold" wave. But certain things must happen to confirm my wave count and before any trade can take place.

Want more info on Gold and what might happen next? PM me or check out my links below.
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Comments

yes i always trust you
haha
Reply
i believe 1186 on your chart. gold drop more than 1206. everyone see 1206.

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Based on technical analysis, I would think more likely to see lower. Wait for either 1198 b/d or 1230 or b/o.
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