"5th WAVE" in WEEKLY GOLD, take a chance for long.

FX:XAUUSD   Gold Spot / U.S. Dollar
56 9 0
- Gold             in "5th wave" of big trend (WEEKLY)
How to trade??
1. find reversal pattern in H4, this is a chance for correction.
2. take a small size for long position in Fibonanci Expansion of H4 correction.
about FE 100%, 168%, or 200%. Use your MONEY MANAGEMENT WISELY to take a chance for long position.
3. this "5 th             Wave" will get the HIGHEST price in NEXT MONTH probably. The Resistance Area that I mean is above 1200 (it can be 1200 - 1220).
4. Sell in that Resistance for TP1 at last support/4th wave/ about 1.050. TP2 is below than 1.050. Choose wisely.
okay, gold have visited at 1070!! touch down LoL.

Will it go further through the last resistance??? hmmm.. please wait, I see gold has resistance at 1085-1090 before it go through. And I see that gold need more time to break it. Let's see how price give its action in that area.

anyways, if it doesn't break, price will retest 1070- as last support and it more slippery to 1065-. Wee see together how price respect to that support.
I dont see a "good" respect at the area resistance that i told you yesterday (1090-).
I see a broken head n shoulder (small TF) n how price jump at support level 1080-.
I suggest to concern at 1085-, this will be new support if price do not break this level and big money will bring gold to up again.
StephanusCahya StephanusCahya
wait.. be careful at that level 1085-, WHY? because this is the 4th wave and now, the price in the 5th wave (small TF) an also I see the resistance is not broke perfectly. If it break, GOLD will be go down further until 1070-
Look at the action of the price at 1090-- I think, it will become new resistance for this correction to 1070-- with now support in level 1080--.

I hope in next support, the price will be bounce high to major trend (5th Wave that I mean to next Resistance 1200)
I have some lot in this correction, I have short about 1106 and wait till psycology support at 1100, and how it goes down more.
StephanusCahya StephanusCahya
if the price break 1108, we must be careful for the strong buy (in my count, 1108 is the 5th wave in a small Time Frame).
StephanusCahya StephanusCahya
I am waiting the price to break support at 1092. And how it go further more. About 1080 (first support before jump/retrace) or about 1070 (second support). I'll see how price give its action.
poin no.2 that I mean is Fibonanci Expansion. sorry my mistake. this is my first idea that I publish
poin no.2 that I mean is Fibonanci Expansion. sorry my mistake. this is my first idea that I publish
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