XAUUSD ANALYSIS
It seems we are in the final stages of a triangle on the Minuette period, within a wave 3 Minute period within a wave 3 in the Minor period ???
As Gold has it's own very volatile personality, we can always expect huge moves (fibos) moving through the wave.
I've currently got a position open since 21st July 2016 which I will close if it reaches
a) My SL which has been moved up to 1295.00
or
b) My TP which I've moved down to 1390.00 (unless I get more confirmation of larger up moves.
Gold is still within the uptrend channel, so lets see how things progress as there are some selling indicators here, but only on the lower periods, back down to wave (b) as indicated on the Minuette period. If it breaks 1300 (short), then it will have broken the current uptrend. I don't forsee this, at least in my analysis, but just incase I've put my stop at 1295.00. If it reaches 1300 then continues up, it will have confirmed the wave count.
It seems we are in the final stages of a triangle on the Minuette period, within a wave 3 Minute period within a wave 3 in the Minor period ???
As Gold has it's own very volatile personality, we can always expect huge moves (fibos) moving through the wave.
I've currently got a position open since 21st July 2016 which I will close if it reaches
a) My SL which has been moved up to 1295.00
or
b) My TP which I've moved down to 1390.00 (unless I get more confirmation of larger up moves.
Gold is still within the uptrend channel, so lets see how things progress as there are some selling indicators here, but only on the lower periods, back down to wave (b) as indicated on the Minuette period. If it breaks 1300 (short), then it will have broken the current uptrend. I don't forsee this, at least in my analysis, but just incase I've put my stop at 1295.00. If it reaches 1300 then continues up, it will have confirmed the wave count.
Operación cerrada: precio stop alcanzado:
SL hit, but in profit, thank you very much XAUUSD :D
Will be setting up a new entry on this shortly and will trade a break out.
New chart will be posted shortly. Have a great day !
Will be setting up a new entry on this shortly and will trade a break out.
New chart will be posted shortly. Have a great day !
I've now moved my SL up to 1347.00 and my TP is now at 1400 square.
If my SL is hit, it will be in profit so a well earned profit on this trade. :D