Gold is in a daily corrective structure ,making a leg to the up side . This 240 up move has so far made two impulse and seems to be in a correction now, I will wait for the correction to finish (if is a correction ) and then take the trade in the direction of the trend ,buying the next impulse off the 618 fib if the correction has a 3 wave pattern or on a break out if the correction is a triangle .
I like to go with the fast impulse and not the correction which could put you on a roller coaster and never get to your target if you are in the trade. Thank you for your AMAZING SUPPORT !! I very much appreciate it and please keep LIKING and commenting !
Comentarios
anilmangal
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This is a good risk to reward trade , it's in the direction of the bigger trend even if it is just a pullback to go down.
anilmangal
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BUY valid
IvanLabrie
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I actually bought before and bought lower.
This is my idea, I see this is as a nested impulse, part of a big flat's C wave.
I use other methods to confirm or obtain my wave counts, since I'm not that good with EW though.
anilmangal
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nice
tcas
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Buy from 0,618 fib?
anilmangal
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no from 786
check the chart i post in the comment
anilmangal
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move stops to BE if you took the buy ,looking more like a bear flag in the making
IvanLabrie
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Yeah, I got out for now. Waiting, still looks potentially bullish.
anilmangal
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since this is only one leg down not a corrective pattern as yet ,skip the 618 buy and let's see how it develops .
IvanLabrie
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Intense selloff indeed.
I can still average down the entry as per my risk parameters. Let's sit and wait.