Long term long

FX:XAUUSD   Gold / U.S. Dollar
303 3 16
Im eyeing current price zone as an area to establish long position on break out.
Comment: trade is active
Comment: updated
Comment: Correction continues and could be dragging out to larger triangle. move stop to plus 1.75% and holding long.
Comment: A good finish to the week for gold. I had my concerns as a few top traders looked to short gold this week. Stop has been trailed higher again locking in 2.9% and i believe wave 5 of this degree is now underway.
Comment: Stop trailed higher again now locked in 4.9%
Comment: stop trailed higher again, now locked in 6%. my updated prediction also....
Comment: big spike down stop hit im out for 6% profit will wait and see from here.
Hi,your chart looks ok...you are saying this Europe/Britain vote is the bottom for sometime then,,thought it would go lower pre vote?
tst PRO Ronnee
Hi Ronne, I don't know how the vote will effect the price of gold. Im looking at the price action and it could indeed go lower but I watching for a move to break higher. If for some reason the vote makes the price break aggressively higher im going long...... This level is at completion of a zig zag correction. If my wave count is correct this would complete a wave 2 and put price at the start of a wave 3 which is the best EW to trade with. If im wrong a lose 2% of my account value and look for the next trade set up etc... I know how to trade this way but I cant say how to trade according to the vote meaning a bottom or top. all the best.
Hi, yeah next 2/3 days are going to be interesting, thanks for your comments which are sound....if Brit remain with a decent majority gold I feel will continue down, but,, Brexit gold will go to new highs so fast it will break all records!.being position for this is a good idea. Entry point is the big question! I haven't funds to buy to early..going to wait in the hope it gets to 43 or so first..Yellen has kept the USD down with her speech I feel..gold normally would be rising now with that happening. Good luck, Ron NZ
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