davidchalker
Short

XAUUSD corrective structure

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold             broke low and came to find support at important fib level. Price now looks to move up in a number of smaller waves before another larger move lower. Be wary of another move lower if price should break low, as that would invalidate this count. If price holds, look for move up toward sell zone. Be careful taking long trades here, price will be erratic. If you are unfamiliar with trades against the trend, stay flat.

Trade wisely
Comment: It has taken a while, but it appears price moved into the sell zone. I had meant to get this out last night, but that didn't happen. Watch for break of longer trend, to stay short to target zone.
Trade closed: target reached: Short trade has been closed as target of 1170 has been reached. A move upward should now be in the works. This move may be one of two things, a short term retrace with a much deeper drive lower, or it could be a move up past the previous high near 1400. The structure of the move up will dictate whether the bias is down or up.

Stay tuned for more, and as always,

Trade wisely.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out