Entry @ Market Price (approx. 1519.00)
SL @ 1510.00
TP @ 1535.00 / 1545.00
SL @ 1510.00
TP @ 1535.00 / 1545.00
Trade active
Note
Ending Diagonal in a C wave.Bearish Cypher allowing the rise towards the Fibs.
H&S as the reversal pattern.
Strategy: one in the green, moving SL to BE.
This will allow shorting later, with lowest risk.
Note
SL placed at BE, with the intention to hunt the short.Note
One more rise should occur, followed by a deeper fall.Shorting around 1540-1545, with the long in place, at break-even.
Taking profit on the long as it unfolds and confirms the fall (breach).
Trade closed: stop reached
Quick short-term long stopped out in small profit.Note
Short (bearish leg) caught in due time, with a gain.Trade active
Bullish retracement in play, until the reversal Fibs.Trade closed: stop reached
SL reached for the attempt to go long again.Trade active
A pull-back on XAUUSD would occur before the bigger fall would start.Why am I saying that?
- Lower trend-line of the channel could provide support.
- Bullish Divergence could start the bullish sequence.
- Secondary H&S awaiting
- 5 waves down should be followed by a 3 wave pull-back
- Harmonics agree with a retracement
- Correlations would support this, as the VIX is about to continue the spike and global Indices are sitting on the edge of the cliff
- Fundamentally speaking, risk-off is around the corner
Many pips ahead!
Note
Trade active
Done with the shorts on XAU, back to longs.Trade active
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.