HUGE GOLD SHORT TO START 2023 OFF RIGHT
Hello Traders,
Happy New Year All!!!
I wish you all a very successful 2023!
Today we are looking at
XAUUSD where we have identified a solid zone of reversal.
Why are we entering?
- We are at the end of our subwave 2 correction. We are now expecting bearish subwave 3 to occur which is a impulsive wave.
- We are expecting a rejection from our -1 fibonacci level
What is our confirmation?
- Rejection from our -1 fibonacci level
- Break of wave C WFB (Watch For Break)
- Break of our 8HR EMA
Entry
- Safe Entry: Rejection of our SELL zone with a break of our 8HR EMA / WFB (Watch For Break)
- Risk Entry: Rejection of our SELL zone
- Risk Entry 2: Early break of 8HR EMA / WFB (Watch For Break)
Once entered, where will our Stoploss be?
- Above our fibonacci: 1850 (60 pips)
Where do we take profits?
First TP - Structure level: 1730 (1140pips)
Second TP - Previous low: 1616 (2280pips)
Final TP - -0.27 fibonacci: 1562 (2920pips)
Be sure to follow me and check out my other ideas below!
Happy New Year All!!!
I wish you all a very successful 2023!
Today we are looking at
XAUUSD where we have identified a solid zone of reversal. Why are we entering?
- We are at the end of our subwave 2 correction. We are now expecting bearish subwave 3 to occur which is a impulsive wave.
- We are expecting a rejection from our -1 fibonacci level
What is our confirmation?
- Rejection from our -1 fibonacci level
- Break of wave C WFB (Watch For Break)
- Break of our 8HR EMA
Entry
- Safe Entry: Rejection of our SELL zone with a break of our 8HR EMA / WFB (Watch For Break)
- Risk Entry: Rejection of our SELL zone
- Risk Entry 2: Early break of 8HR EMA / WFB (Watch For Break)
Once entered, where will our Stoploss be?
- Above our fibonacci: 1850 (60 pips)
Where do we take profits?
First TP - Structure level: 1730 (1140pips)
Second TP - Previous low: 1616 (2280pips)
Final TP - -0.27 fibonacci: 1562 (2920pips)
Be sure to follow me and check out my other ideas below!
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