Koch0617

Advanced Wolfe Wave Analysis - Part 10

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold broke through resistance with an Uptrend WW completing right at 3 areas of confluence.
Intermediate target line suggests 1454, where 3 areas of confluence exist. In addition just above strong support, so expect the low point to tip is toes into this zone before reversing. Target of larger, long-term WW is still ~ 1413.

At this point I'm selling just out of the money Jan options. Too eratic for me to sell outright futures contracts.
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.