faylee
Long

bullish butterfly, long set up

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
2345 14 60
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:
Comment: Match perfectly
Comment:
Comment:
Trade closed: stop reached
seems broke down just now, so we have to look further into it
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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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We got resistant at 1340
Updated chart, possible movement:

 
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faylee faylee
 
Reply
faylee faylee
Reply
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
From my view

The gold may drop more,

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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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I'm in there with you.
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