FullTimeTrader
Long

XAUUSD-ending diagonal finished

FX_IDC:XAUUSD   Gold / U.S. Dollar
1868 24 30
Something big is happening with gold             . Here we can see a perfect ending diagonal just finished.
A strong swift rally is expected.
We could have and ABC (or WXY) correction to the targets shown on chart before rate hike (if any)
I entered long today after FOMC news and following silver             setup, i will update to pinpoint a setup with defined SL and targets.
Regards.
Solid perspective.
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Could you please show the whole pattern this ED belongs? I mean major levels too. Thank you.
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Hello, here is my prefered count so far. The red arrow shows the possible moves im expecting to add more longs.
snapshot
+1 Reply
IvanLabrie PRO FullTimeTrader
Pretty much the EWI count.
It makes sense overall.
So far so good, good job.
+1 Reply
aibek FullTimeTrader
Hello man! Red circled ABC is the correction of larger wave 2 or 4? Where do you see the target for impulse up?
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Maybe you should show the weekly bullish div on macd too..
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FullTimeTrader Yahia.Awes
Yes!! Theres is a monster triple bullish divergence on MACD, typical for a wedge. But some traders do not use or believe in divergences.........
snapshot
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Yahia.Awes FullTimeTrader
Nice macd cross about to happen also, unfortunately i was catching a falling knife to short it.
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HERE IS THE NEXT POTENTIAL SHORT ON GOLD
+1 Reply
Hello, we could have some pullback near the trendline for sure, difficult to pinpoint. Long term the move is clear impulsive, i think gold will be bullish full month until next USD rate news.
+1 Reply
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