Quick Take: Post-FOMC Gold Analysis

FX:XAUUSD   Gold / U.S. Dollar
1015 6 25
In a previous post a few days ago, I gave the suggestion to go LONG based on my wave count and that Gold             had reached a critical zone where a confluence of factors came together to provide strong support.

Well, I went LONG at that point but also got stopped out when I moved my SL to B/E before the FOMC as there was much doubt as to how Gold would react. But now that the FOMC is over, Gold has now followed my projections and is headed higher in an ending wave (5). After this wave (5) is done, we should see a MASSIVE opportunity to SELL. But first things first.....wait for a pullback to get LONG....

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Comment: Gold update wave count.....
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I'm curious as to why you're not buying now.
+1 Reply
nice... i am happy for see your idea.....we are in the same....blessings
hi ...i needed on view on this...i have taken a short position at 1337.66,which to the fib retracement levels is at .236 currently...what do u suggest from here ???i am lookin at levels of 1332 1328 to book profits...
why SHORT? This is an uptrend in development. Why go against it? If you are trying to scalp trade, sorry, I can't help you because that is not my style. I am only looking to buy here. Good luck.
yogi.kash EverythingForex
hi ...the market did do a major retracement from the 145 levels back into the .382 fib levels but unfortunately it hit my stop loss..so i was thrown out of the trade ...as per your chart showin buying on 2nd TL levels , shud i enter into a long position ? also what would be the BoJ impact on this pair ? thanks in advance
Yep, I'm doing exactly what you'll do...
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