WaveAnalysis

XAUUSD Long Trade Setup

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
I took a long trade because my expectation is the yellow C. But what is in the making after the yellow B can become a correction. That's why I'll move SL to BE if it breaks the previous high at 1731.50. Then we will see if it will keep going up. In the case of the yellow C, I'll hedge my trade. So I didn't buy it to book my profit. As you can see, its R:R is not good.

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