wanadigital

BUTTERFLY BULL ON H1, H2 & H4 |HARMONIC + FUNDAMENTALS + TECH

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
This butterfly pattern seats in a pretty comfortable support and resistance zone with a somewhat visible ascending head and shoulder formation. So I have picked my entry points as you can see but remember to watch the fundamentals.
Here are the fundamental factors to keep in mind on Gold:
-Australian ANZ Job Advertisements
-Australian TD Securities Inflation
-Australian Inventories and Company Operating Profits
-Japanese Consumer Confidence
-US Factory Orders
-UK Markit/CIPS Construction PMI
-Eurozone Sentix Investor Confidence
-Eurozone PPI

Good Luck
Comment: Correction: The support line at 1241.73 is a DAILY SUPPORT line
Trade active: Sell order was activated at 1265.60
Trade closed: stop reached

Comments

Do you believe the Catalonia Vote is responsible for the major move friday? I dont know about you but i got REKT lol
Reply
wanadigital mcgough_max
@mcgough_max, Gold is fond of doing nasty things to me but i never stake more than 1% on gold, so i take it as one of those moments where I have to accept a small loss as part of the game :)
Here is what happened on my previous Gold setup - it was another disaster.
+1 Reply
wanadigital mcgough_max
Reply
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