zhipengcfel

Elliott wave analysis on Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             starts rising again after the ABC 335 correction. It seems that the first five wave up has finished. The fifth wave formed a rising wedge . Gold             might pull back for the following days. After the pull back, it should go up again.

The potential target for the pull back are labeled in the chart.

Trading plan for the pull back:
Go short at 1276.1 with SL at 1282.3
TP1: 1262.1
TP2: 1248.5
TP3: 1240.8
This trading is a pull back trading, so please open position with tight stop loss!

After the pull back finsihed, I will join the long again.

Good luck for everyone!
Good
+1 Reply
zhipengcfel albertos
Thanks!
Reply
Excellent analysis sir! Always enjoy your work!
+1 Reply
zhipengcfel smitheric1970
Thanks for sharing! Good job!
Reply
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