Fxprotrader
Short

Gold: Breakout of Uptrend Open Door To Shorts

FX:XAUUSD   Gold / U.S. Dollar
Price in gold             has broken below a long term uptrend with a sharp impulsive move and it's now seems it's in a corrective structure having already formed waves A, B of a potential ABC correctice pattern. If price rallies and reach the previous broken level at the 0.618 fib retracement of the impulsive wave we should have the completion of the correction and a great opportunity to sell the market. I will update with the exact setup when it completes.

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Comment: Altough price dropped as expected, i didn't join the ride as i was waiting a deeper correction. Now what i will wait for is a correction and after it ends i will sell gold. For those who are already in, you may add and trail to make this setup a huge one

snapshot
Comment: This analysis worked great. I posted a new one about gold. Check it out..!
Gold: Watch For Buy At Retest Of Long Term Uptrend
awesome but why you were waiting for a deeper correction?
" i didn't join the ride as i was waiting a deeper correction"
thank you
+1 Reply
Do you think pullbak up until 1332.00 for sell again??
Reply
Fxprotrader BrayanRush
Yes, price might retrace but to that level. If it retrace in a corrections i am selling the end of the correction
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BrayanRush Fxprotrader
Ok thanx I check it ! :)
Reply
i am looking for MT4 EW Pattern indicator since long time:( but not sucess
Reply
Fxprotrader RuhailKhan
i don't know anything about this mate, so i can't help.. But all these automatic patterns and systems do nothing but blowing accounts. Educate yourself, study structure and all these patterns will be in your brain :)
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Fxprotrader ,welldone
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Fxprotrader RuhailKhan
Thank you mate
Reply
I believe well test 1332 one more time.
Reply
MetalCruisers MetalCruisers
before up to 0.618
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