Heading for Wave 5 / (V) / Y / B. Then down it goes.
Share your thoughts and observation in comments session :)
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Supplied information is not advice.
General consensus on XAUUSD as backed by BB, KC, Volume, Fibo, the apparant falling wedge and consolidation then leading to what is now a clear cup and handle making a target short for XAUUSD apparant with also a mod-long term position in sight depending on your entry and position of course. [
Clearly investors are shaken up as a reversal on $GLD would usually...
we have several technical
reason for long buy gold
from 1282.15 - 1280
STOP LOSE : 1274
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or...
Very strong level - 1274-1277
I tried to sell and buy at this level several times
But now i finded buy angle mirror pattern. So buying Gold NOW.
When you see this idea - it maybe too late to enter the market. I already enter.
Open buy order on XAUUSD - 1277
SL - 1272.8
TP - 1310
RRR - 1:7.5
Guideline of Equality, in which wave 1 is equal to wave 5.
Although Wave 5 of 5 could fail to make a new high, so correction might come sooner.
Load up in Gold and yen. Short USD.
Short idea for USDJPY linked.
It would seem as we are about to complete the 5th wave of a 5 wave structure on the S&P500.
Given that we could state we are in wave 4 of wave 5, we could expect a wave 5 of 5.
This could be finished at the confluence area of the 1.27 and 1 fibonacci in 2493 - 2527.
Wave 5 of 5 could also fail to make a new high and go short way before.
In conclusion, it could...
XAUUSD 1305's are possible only if there is no Double Top or Failure of that.
Else this channel breakout will fail, so kindly check ur plan before taking positions
Hope I have explained more in chart itself :)
Everyone knows Gold 0.21% is going to be above 1300's and from that zone new scenario's will emerge, so here we have a chance to enter on pullback if we get bullish confirmation in our zone (1285) with stops below 1280's & Targets around 1300 or 1305's as per your trade plan.
Happy Trading !