KVE
Short

XAU/USD: Gold short to complete AB=CD and/or bat?

FX:XAUUSD   Gold/U.S. Dollar
387 2 12
9 months ago
Several possibilities for Gold             at the moment, it all depends on what PA will do in the coming days...

Currently looking to short close to the trendline and/or the 0.618-0. 786 retracement of the last move down (possible AB=CD ) to hopefully catch a new wave down to complete a new AB=CD pattern... Will be looking at lower TF's to pinpoint an entry and possibly use a tighter SL! Very nice R/R possible on this one!

If it fails and the trendline breaks (we did possibly complete a zigzag ABC close to the 0.618 of the last big move up (bat XA) and re-test the broken trendline (dashed)...) then it is possible that we will get a new larger up wave..., in that case my SL is there to protect me!

If I get my entry and it heads further down I will take profit as shown (possible TP2 at bat completion) and I will also be looking for new setups around the levels depicted by the rectangles on chart.

Ultimately we might get a bulish bat completing around the 'up' trendline as shown in the chart. Possible setup on chart with the standard 2 TP's...

Far from there atm, as always: we'll see!! Happy trading!
9 months ago
Trade active: Short entry order triggered, didn't get a chance to add manually, but it's going well...
9 months ago
Comment: Just took 50% profit after price spiked down..., possible trendline support...
FtseSignals
9 months ago
well done, spots on
Reply
KVE PRO FtseSignals
9 months ago
Thanks!
Reply
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