* If you like this idea, please support it with a LIKE so I can post more.
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Stops placed at break-even.
Risk is now 0!
Pfiu ... :)
Now let's see if we can make some money.
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Advanced stuff.
Trade closed: stop reached
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OK, so I got stopped at BE. NFP cause the spike, but FED caused the fall.
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The coming week will be crucial for XAU!
If it continues lower in an impulsive manner, then a correction would pave the way for a big sell-off.
However, there are still chances for a "clumsy" continuation within an Ending Diagonal, should XAU manage to bounce next week.
* In case of a breach, then the lower trend-line would act as the rejection zone and the sell-off entry.
* In case of a bullish impulse, then the Diagonal would be in play and the 1565-1585 zone should give more signs for the reversal.
**Note that 1585 reflects Sep 2011 and Dec 2015 Fibonacci Retracements, the Golden Ratio 61.8%.
Let me know if you guys agree or like this view. Many pips ahead!
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In case of a bearish continuation, I will be ready.
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Went on an intraday long with XAU.
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XAUUSD structure implies a bit more down-side before a bullish sequence. Important to watch how that one unfolds.
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Bullish divergence is definitely there, but the current intraday structure could reflect a triangle, making one more dip possible, then a spike on the up-side.
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Possible more down-side as the last leg before a bigger bullish sequence.
Hi. I really like to know elliott analyst idea about gold but to be honest I really cant see anything in your chart men.. so crowded
Lionheart-EWA
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@Masoud1369, Hey, thanks for the comment. I'm glad you are interested in the EW analysis. The truth is that by using this type of advanced and complicated analytical method, sometimes the charts can get pretty crowded, but believe me when I say: there is a precise order in this disorder. If you are having difficulties reading the interactive chart, then just use the pictures in my updates, I am sure that you can have a clear view. Let me know if you understand it. Cheers!
Masoud1369
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@Lionheart-EWA, sorry for delay. thanks for the reply. Ill definitely will follow the updates
hskwonstock
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The idea of leading diagonal wave 5 is amazing. I've never thought that wave 5 has already started, was just thinking well..maybe.. it's having a long wave 4 as a... double? or triple correction. Learning so much from you, thanks! Also, that idea of utilizing fractal structure is amazing too, this is a one of a kind analysis.
Lionheart-EWA
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@hskwonstock, Thanks for your input. Yes, I am considering the ending diagonal in the last 5th leg.