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 ...
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 ...