alanchin

5 waves of bullish trend achieved!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Long-term bullish trend successfully reached the 5th high point. In most cases, a big retracement will be happened after 5 waves finished. But short-term (4H) chart shows only 2 waves up. Most of our buying orders of 1810 and 1970 are closed at 2069. Waiting for retracement down to the support 2021 or 2011 if 5 waves of 4H could achieved. In this pattern, I should say: No chasing for bullish! If 5 waves of short-term (4H) starting from 1970 chould achieve again, long-term bullish trend may finish. Let's see the result!

* 1st resistance: 2069. 2nd resistance: 2099.
* 1st support: 2021. 2nd support: 2011.
* Bull & bear boundary: 1985-1990.
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