buying on predicted pull back level 1.247. Potential corrective flat structure would give entry to wave 5 as shown in chart. risk to reward 5.5 to 1.
taking a short entry for wave 5 on this potential correction
Trying long at trend line to potentially ride wave e. Tight stop...
GOLD looks to have dropped out of the channel. Good place to try short at retest of the high.
Trying my luck that price will find resistance at the 88.6% retracement. Tight stop.
Entering long if we see a break of the last 4hr candle high.
Active long position now back up to 1.27 then big short down to 1.21.
1118 could be a good buying level. 78.6% is a common place for a wave 2 correction to complete. Also lines up with a 161.8% extension of a zig zag.
Multipliable trade set ups from this pattern but im long bias on higher time frames. The pattern could brake here offering a sell down to 48 but is the most risky of the trades. Breaking trend line and long to 56 would be a trade ill take. Ill update if position taken. Ultimately after a correction You want to get long as this will be the best wave up on the...
will be watching price at the 85 level looking for short entry. will update if position taken
Haven't traded a cup and handle continuation pattern for a long time but they can work well. buy a break of the channel take profit and buy the pull back again. Will update if it breaks out.