FullTimeTrader
Long

XAUUSD-an opportunity to join the rally

FX_IDC:XAUUSD   GOLD / US DOLLAR
994 13 10
Here we can see an ideal pullback to join this rally.
Looking at W1 chart we see price is doing a pullback to a long term level of S/R
snapshot


Right now is bouncing from the short term trendline resistance that i expect to be broken soon.

SL would be below the horizontal support shown on chart.

My current EW count also suggest we are at wave 4:
snapshot

Regards.
The vertical bit might be just 1-2,i-ii still!
Can be a crazy rally...I'll keep an eye on it.
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moneymaking
a year ago
I'm actually short mate, 100 ma retest at previous broken support structure:
snapshot
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IvanLabrie PRO moneymaking
a year ago
Yes, even if it's 1-2,i-ii like I propose, we still need a 3 day correction first.
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IvanLabrie PRO IvanLabrie
a year ago
(Pair trade would be good, short gold, long silver to close the spread)
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moneymaking
a year ago
All the BEST from me :)
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FullTimeTrader moneymaking
a year ago
Hello, i see price is finding a strong resistance at the trendline and your 100 ma. Bulls/bears fight with this crazy market anyone can win! best regards.
+1 Reply
IvanLabrie PRO FullTimeTrader
a year ago
For sure!
It's a bit unclear, with such volatility, tight stop and large tp will pay off.
Good luck!
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moneymaking FullTimeTrader
a year ago
Absolutely, it will be good fight nonetheless. Thank you :)
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IvanLabrie PRO moneymaking
a year ago
What's your take on GBPNZD and GBPAUD guys?
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FullTimeTrader IvanLabrie
a year ago
Non-tradeable for a long time, like after the CHF crisis.......
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moneymaking FullTimeTrader
a year ago
Ya, totally agree, market needs time to adjust that huge spike. on sideline for now :)
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IvanLabrie PRO FullTimeTrader
a year ago
Gotcha, indeed, looks gamblish right now.
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Rocketman PRO FullTimeTrader
a year ago
I am still long MUX (a gold miner and long gold. I think it will pull up after tonight or by tomorrow night from what I see. Even a fall to 1132.70 is fine. Then, it should pull right back up. Also, a few days ago GDX (gold miners etf) gapped up when it hit its support line. it is testing it again today. The same thing will happen, and DUST will fall back down.
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