Hello Friends! This is my trade idea for XAU/USD. We got multiple confirmation in this one. We got multiple sequence in one single structure which is the black (Elliot Wave). Break of structure from our sky blue (Elliot Wave).
The market have been downtrend channel for past few weeks. It finally broke from the channel which means retail traders gonna start buying the market and waiting for the slaughter. WE applied BLASH principle in this idea. We are looking for sells cause market is expensive. The purple rectangle is the retracement of the downward channel.
Market plummeted from All time high ($ 6) and drop to $1.9. The market showed us a bullish sequence and opportunity to buy participate in the market. If you wish to support the Jollibee We can use the buying area to enter in the market.
Market created a Bullish Structure and we are trading inside of the retracement area (Black Rectangle). The Market Re-stabilized in our Retracement area which is a good sign for us that market would create an impulsive move. Let's wait what would the market would offer us and hope for a better result. We are using the (Green Rectangle) to enter and catch the break...
We missed the entry for few pips from the Green rectangle but I am hoping for the market to retrace once again and offer us opportunity. I drew two Scenarios, The Orange marked is when the market retrace to our green rectangle again. If we missed our entry we can use the purple marked to participate in the market.
Hello Friends! I am just gonna share my Analysis for EA in long term Bias. The market hasn't retrace since it plummeted from 1.96700 area. I am expecting for the market to go up to the 1.8000 area which is the Retracement area (Green Rectangle) from the bearish impulsive move. Apart from that, Market is consolidating and gathering liquidity to fuel the Bullish...
