FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
602 3
Waiting for possible ABCs, waiting for consolidation, theres 3 resistance points 1296.69, 1258.78 and 1229.56 ( Daily Chart )
Comment: 1229.56 resistance level reached
Comment: Scalping on M15 using Wave Analysis, first trade expecting to reach fibo -0.27, second trade expecting to reach -0.618 (or around blue area)
Comment: Gold keeps respecting tendency, impulse just started- 1H Chart
Comment: We can see impulse was correct, its close to resistance level 1258.78
Comment: We can see it respected resistance level 1258. 78 and made an ending tendency, impulse number 1 reaches same levels as impulse number 4 at 1249.06 (Ending Diagonal), as it reversed I expect it to go up, MACD also marks new impulse. - 1H CHART
Comment: I did Wave Analysis on M15, we can see a perfect flag where I entered en took profit on -0.27
Comment: Expecting 4 corrections - 1H Chart
Comment: (4h Chart) Im expecting a 5 wave estructure, right now its at point 4 where there was some volatility, but came back and its froming a flag on 1h Chart
Comment: (1h Chart) A flag is forming and it could be traded with a buy stop, I used fibonacci to mark impulse, 0.236 fibo right on top of flag, first TP would be at -0.27 and second TP at -0.618
Comment: First TP reached at -0.27 (1304.06), second TP reached at -0.618 (1310.52) - 1h Chart
Comment: Now that gold had a great impulse, I traded down trend, but know theres a correction going on, I believe this is an ABC and when C gets completed you can just look for a flag to sell or leave a sell stop at 0.236 fibo an TP at -0.27 (-0.27 is exactly at tendency line)
Nice work Daniel, Can you share your anlysis for the actuel price action plz
@Omar87, Thanks, just did you can see to updates
+1 Reply
Omar87 DanielParra99
@DanielParra99, Nice work thx
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