cfetrader

Short term gold trading

FX:XAUUSD   Gold/U.S. Dollar
480 8 9
The current gold             wave is a 3rd wave (actually e.2.(c) of V) at it's 4th sub-wave, which is expected to end around 1210. If the yield characteristics are similar to those of the November-January rise, then the target is probably 1274, which also coincides with the long term pressure line.

PS: I dedicate this analysis to all my fellow traders in the GOLD             chat room section, who present on a regular basis excellent ideas for trading.
Yahia.Awes
2 years ago
Smells like raise rate in June?
Reply
cfetrader Yahia.Awes
2 years ago
Thank you for the comment. If that is the case, then gold will decline.
+1 Reply
Yahia.Awes cfetrader
2 years ago
Look at this chart, looks like gold found support and we have a wolfe wave in the 5-th wave about to finish. I believe it will work out, when the dxy hits 96 gold will trade below 1200
snapshot
+1 Reply
cfetrader Yahia.Awes
2 years ago
Excellent chart. Your DXY target is approximately 91, which retraces 50% of the third wave rise. I will be also watching the levels of 92.5 (38.2%) and if it extends that low the value of 87.5 (61.8%).
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cfetrader cfetrader
2 years ago
Of course after that low marking the end of wave 4, then indeed the 5th DXY wave will commence, affecting this time all assets.
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Yahia.Awes cfetrader
2 years ago
I believe DXY will go up because of the wolfe wave and the channel support it found. I've found something different, maybe too far to look for, but something to keep in mind.

Gold escaped out of the rising channel and looks like a symmetry is there. Years going up, maybe retracement now?
snapshot
+1 Reply
HARRYFXXX
2 years ago
Great, what's the figures on balck ground for? thks!
Reply
cfetrader HARRYFXXX
2 years ago
Good question. These are the wave yields. In the November-January rise we had a ratio of (11.14%)/(7.23%)=1.54, which led me to calculate the current wave e.2.(c) target yield as (5.81%)x1.54=8.95%.
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