XAUUSD-nice impulse forming expecting BAD FOMC news

FX:XAUUSD   Gold Spot / U.S. Dollar
1412 20 19
Hello, my bias is already long on gold             and silver             .
Here is a nice opportunity to open or add some positions.

We have a nice impulse forming, currently price is sitting at wave 4.

Another reasons
- downtrend trendline broken
- ema55 acting as support
- ema200 acting as support
- ideal 0.38 fib retracement

The party begins in few hours!!


This is just and idea, not a recommendation to buy or sell.
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).

hi....this is my idea...it look like the same....

FullTimeTrader tupaitrader
Short term the direction is the same but long term i think its a series of 1-2s. Regards.
tupaitrader FullTimeTrader
webmiztriz PRO FullTimeTrader
Hello FullTime - would you mind looking at GDX and giving you thoughts on wave count?
FullTimeTrader webmiztriz
Hello, i usually dont trade GDX but looking quickly i see a nice long opportunity. I will publish a chart for the community later. Regards
webmiztriz PRO FullTimeTrader
ok i have one.. but - im jussst learning and, umm .. too shy to post.. aww heck .. would you mind taking a look at this .. 'rough - idealized" path ...

FullTimeTrader webmiztriz
Exactly! wave 2 is just finishing, after that we should expect a strong rally for wave 3 but the lenght of wave 3 is difficult to project. If this bias is right the 1.61 fib projection should be reached at least. Regards.
webmiztriz PRO FullTimeTrader
wow.. thank u!! :o)
tupaitrader webmiztriz
hi...i also new in trading....for me is to confirm the completion of correction in wave 2....then if the price fail to find the lower low...yet it make the higher high...with my point of view...that is the sign of heading to wave 3...just my opinion....
mkdeep04 webmiztriz
not sure gold is bull..holding long 1123... eyeing 1127/9 area for resist
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