zhipengcfel

Pay attention to the rising channel support

FX:XAUUSD   Gold / U.S. Dollar
Gold             retraced back to the bottom of the rising channel and rebounded a little bit. Pay attention to whether it will break the rising channel or continue going up.

Good luck for everyone!
Trade active: Gold breaks out of the decline channel and confirms a bull flag!
Trade closed manually: I closed longs.
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Comment: Gold is still bullish. Pay attention to the resistance at 1353 which is a neckline. If it breaks, it will go to the previous high!
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Comment:
Elliott wave analysis on Gold (2016-08-07)
thanks for share .....you are very good elliot player.....
blessings
+1 Reply
zhipengcfel OrelMely
Thanks very much! There is one problem with elliott wave is that it has many alternative counts, so we need the market to tell us which one is correct.
+1 Reply
RogerS PRO zhipengcfel
But you still expecting to reach the DCL (C) after this last leg up, don't you ? Maybe is all up to FOMC meeting today.
+1 Reply
It could be. I will watch carefully.
Reply
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