FullTimeTrader
Long

XAUUSD-nice impulse forming expecting BAD FOMC news

FX:XAUUSD   Gold / 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!!

Regards

*****************DISCLAMER********************************************************************
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).



Why do you think it will be bad FOMC news in a hour? Everything seem to be getting $ strength... That would tell me the inside people who already have the news are buying $ because the FOMC will be hiking rates...
Reply
FullTimeTrader RobbyWestHouston
It depends on each trader, if you expect a rate hike then you should short here. This is just my view. Regards.
+3 Reply
RobbyWestHouston FullTimeTrader
I do not want a rate hike... I am position for no rate hike until next year... It just appears from the current moves that I am wrong and we are going to get a rate hike in the next few hours... or next meeting for sure...
Reply
FullTimeTrader RobbyWestHouston
Nobody knows what will happen, all i do is analyze the charts using elliott waves and technical analysis, this gives me a clue to "predict" the next price movement. Off course i could be wrong, in that case i have the thick red line as invalidation level.
Reply
RobbyWestHouston FullTimeTrader
Yep you are right their...no body knows except for a few inside people... Generally we should have a retest of the trend-line breakout...to confirm the move up.... I would be looking to enter long on retest of the down line... personally... for this chart you have posted... Anyways less than a hour from FOMC news... I do hope the news is bad...and the talk 30 mins later will be saying they will not move till next year...
Reply
enjoyed this move for 100 pips ,,, :P
Reply
perfection... ;)
Reply
Could be even higher imo
snapshot
Reply
I will keep longs term positions for some months here. According to my long term analysis this is the bottom. Regards.
Reply
hi....this is my idea...it look like the same....

snapshot
Reply
FullTimeTrader tupaitrader
Short term the direction is the same but long term i think its a series of 1-2s. Regards.
Reply
tupaitrader FullTimeTrader
okey..great!!thanks!
Reply
webmiztriz PRO FullTimeTrader
Hello FullTime - would you mind looking at GDX and giving you thoughts on wave count?
Reply
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
Reply
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 ...
snapshot

Reply
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.
Reply
webmiztriz PRO FullTimeTrader
wow.. thank u!! :o)
Reply
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....
Reply
mkdeep04 webmiztriz
snapshot
not sure gold is bull..holding long 1123... eyeing 1127/9 area for resist
Reply
that was another count I had..I couldnt figure it out.. some miners look like they could be in a "4" with one 5 leg to go.. that coincides with your retest... hmmmmm.. interesting. thank you.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out