again with wave count and this time I have this setup with tight stop
if it goes up then I will sell .. also we have divergence on RSI
if the price drop from here then im just leaving it until correction ii of c .
I have been following XAUUSD at all time frames and giving you some of my trades .
for now Im going to buy this break out . there is a chance that we still in the correction so I take the target considering that but this trade can go much more than this target . Im not showing my wavecount on this because there is 2 scenario . but still very good...
If you didnt see the previos chart on gold then you should do that to be able to understand why we are looking for a buy setup .
for now I see the correction as a zigzag pattern and there is one final down move before the finish .
trade with care
In this chart I tried to make it simple and clear so I hide all lower digree waves so you can understand the main wave pattern .
the C wave of this irregular flat still have 1 big up move with 5 wave inside >this is going to be agressive and sharp.
make sure you dont miss my update on lower time frame
this is my wave count on GBPUSD .
Im waiting as the it goes up to finish the whole correction . one impulse down and I will get in short .
if that heppens >> we will get very sharp down move and that means more than 1000 pips in 1 week
im looking for reversal impulse at these points