XAUUSD Long Trade Setup
Hello Traders
Although the reversal structure doesn't look good, I placed a pending order over the last top because 3 reasons. First, my forecast is an upward impulse as a C wave for a complete running flat. Second, the last low tagged a very strong Fib confluence level (272 extensions of green and blue A waves) and got a reaction, which doesn't look too strong. Third, gold loves slow starts. So, we can have a fast upward movement soon.
Trade with care.
Bulent
Although the reversal structure doesn't look good, I placed a pending order over the last top because 3 reasons. First, my forecast is an upward impulse as a C wave for a complete running flat. Second, the last low tagged a very strong Fib confluence level (272 extensions of green and blue A waves) and got a reaction, which doesn't look too strong. Third, gold loves slow starts. So, we can have a fast upward movement soon.
Trade with care.
Bulent
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