faylee
Long

bullish butterfly, long set up

FX_IDC:XAUUSD   GOLD / US DOLLAR
2328 14 57
Entry: 1333            
TG1:1357
TG2: 1370
TG3: 1390
Comment: The yuan mid-point against the dollar devaluation of 441 points, at 6.6652. It's the biggest drop since June 27.
Comment: In Aug.11,2015 AM, RMB depreciation of a trading day 1136 points, 1.9% cut
Gold price has fallen down $11/OZ in 9:00-9:45AM,then moved up near $22/OZ in 3:00PM.
Trade active: my entry: 1332.5
Comment:
snapshot
Comment: Match perfectly
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Comment:
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Comment:
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Trade closed: stop reached
Are you being optimistic about those targets?
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faylee AdrianM
yes, if $1330 holds
+1 Reply
Faye,

I am agreeing your idea....
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I'm in there with you.
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Thank you for your ideal! There could be more down to 1303- 1310 10 months SMA support. BTW if FRB rises rates in Sep. it's a huge buy there, don't miss it please.
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From my view

The gold may drop more,

GOLD
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Faylee,
Thank you for your very good and timely info.
Q: how many Time-Frames are used for calculation of Elliott waves in this analysis?
+1 Reply
We got resistant at 1340
Updated chart, possible movement:

 
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faylee faylee
 
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faylee faylee
snapshot
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Faylee, Excellent Charts! My congrats. You are brilliant Trader as I can see. But regarding this chart, don't you think we could have a correction to 1280-1260 area now before the huge growth. Thus often happen in Gold before such moves.
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seems broke down just now, so we have to look further into it
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