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CFDs on Gold (US$ / OZ)
Long

GOLD W1 JUNE 2020

By SuperMonkey0
Updated
GOLD
Long Setup
Comment
Long Theory
Price has broken out of the trendline of this bearish Wave 2. Now preparing for Wave 3, which is the longest wave of the 12345 impulse wave. SL is set below Wave 2, this is because if price goes below 'Wave 2', 12345 impulse wave would that be invalid. 3 TPs has been set for the target of Wave 3.
Once Wave 3 is completed, target for Wave 5 will be analysed in the future after a Wave 4 correction wave
Comment
GOLD W1 JUNE 2020 UPDATE 1
GOLD could be forming a double zig zag pattern within an ABC move upwards on this 3rd wave.
If this plays out, then the ABC wave consists:
__A wave__ zig zag pattern
__B wave__ side ways move/triangle
__C wave__ zig zag pattern
This could then potentially reach our first target
snapshot
Trade closed manually
Hit BE +80
Chart PatternsGoldgoldanalysisgoldbuygoldchartgoldlongTechnical IndicatorsTrend AnalysisXAUUSDxauusdbuyxauusdchart

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