XAUUSD (Gold) - Intraday BUY Signal (Sep 23rd)

Entry @ Market Price (approx. 1519.00)
SL @ 1510.00

TP @ 1535.00 / 1545.00

Trade active:

Comment:

Ending Diagonal in a C wave.
Bearish Cypher allowing the rise towards the Fibs.
H&S as the reversal pattern.

Strategy: one in the green, moving SL to BE.
This will allow shorting later, with lowest risk.

Comment:

SL placed at BE, with the intention to hunt the short.

Comment:

One more rise should occur, followed by a deeper fall.
Shorting around 1540-1545, with the long in place, at break-even.
Taking profit on the long as it unfolds and confirms the fall (breach).

Trade closed: stop reached:

Quick short-term long stopped out in small profit.

Comment:

Short (bearish leg) caught in due time, with a gain.

Trade active:

Bullish retracement in play, until the reversal Fibs.

Trade closed: stop reached:

SL reached for the attempt to go long again.

Trade active:

A pull-back on XAUUSD would occur before the bigger fall would start.

Why am I saying that?

- Lower trend-line of the channel could provide support.
- Bullish Divergence could start the bullish sequence.
- Secondary H&S awaiting
- 5 waves down should be followed by a 3 wave pull-back
- Harmonics agree with a retracement
- Correlations would support this, as the VIX is about to continue the spike and global Indices are sitting on the edge of the cliff
- Fundamentally speaking, risk-off is around the corner

Many pips ahead!

Comment:

Trade active:

Done with the shorts on XAU, back to longs.

Trade active: