XAUUSD waiting at sidelines

Updated

Hi Everyone

I am waiting at sideline for a breakout to happen either up breaking 1852 or down breaking 1819.

Uptrend started at 1617 and has paused at 1959. It is riding a correction wave downwards from 02 Feb. The cross up of 1852 (fibonacci 0.236) will tell us a V shaped cup pattern is getting started. Unless 1852 is crossed up don't enter a long position.

if it breaks 1819 downwards then it means short lookout has more edge. Next short target is going to be 1749 (fibonacci 0.618).

Note

still valid

Trade active

Note

FIBO 0.236 at 1842 on retracement wave must be crossed to consider opening long position

Note

Opened LONG position @ 1846 !

Note

StopLoss @ 1827. Long position is closed..

Trade closed: stop reached

Neutral until NFP news upcoming

Note

Entered long position at 1900 (fibo 0.618 of retracement Wave 2)

Trade active

Very obvious short squeeze occured @ 1900 whipsawing sellers.

Note

Crossing up of 1960 will confirm beginning of impulse wave 3 with targets shown on chart

Trade active

Targets are still valid :
2078 (fibo 0.786 of Wave 3)
2152 (fibo 1.0 of Wave 3)
2366 (fibo 1.618 of Wave 3)

Trade active

Targets are still valid :
2078 (fibo 0.786 of Wave 3)
2152 (fibo 1.0 of Wave 3)
2366 (fibo 1.618 of Wave 3)

mmuutkan

Also on:

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.