XAUUSD is in the triangle of ABCDE correction
With FOMC Statement tonight, i strongly believe that the Gold will still respect its triangle and continue to consolidate within it.
The current movement to around $1850 area can be determined as wave "D", which now it is on the 78.6% correction from "C", and of course we expect more downward movement to complete the cycle with "E"..
This is a good sell setup with stop above the trendline (triangle)..
BEWARE OF WILD SPIKE during the FOMC statement..
CHEERRSS....
The current movement to around $1850 area can be determined as wave "D", which now it is on the 78.6% correction from "C", and of course we expect more downward movement to complete the cycle with "E"..
This is a good sell setup with stop above the trendline (triangle)..
BEWARE OF WILD SPIKE during the FOMC statement..
CHEERRSS....