XAUUSD incoming short opportunity
Updated
Wave B/2 on the DAILY TF almost completed with the wave B/2 being a complex correction which I assume only a WXY with the X wave being a complex correction itself.
On the lower TF which is H1, through my observation, the wave count already on wave C to complete the Y wave in TF H4 (EXPANDED FLAT).
An expanded flat correction suppose to have a wave B that ends beyond the starting of wave A and a wave C that ends beyond the ending point of wave A, so for a safe entry point I will be looking for a reversal CS in TF M15 at the area between fibo extension 100% and 127.20% with SL above the wick of the CS.
If the analysis is correct, we should see XAUUSD reach 1450 or even 1405 if the current wave is indeed a wave 2 instead of a wave B.
#JustANoobie
On the lower TF which is H1, through my observation, the wave count already on wave C to complete the Y wave in TF H4 (EXPANDED FLAT).
An expanded flat correction suppose to have a wave B that ends beyond the starting of wave A and a wave C that ends beyond the ending point of wave A, so for a safe entry point I will be looking for a reversal CS in TF M15 at the area between fibo extension 100% and 127.20% with SL above the wick of the CS.
If the analysis is correct, we should see XAUUSD reach 1450 or even 1405 if the current wave is indeed a wave 2 instead of a wave B.
#JustANoobie
Trade active
Position opened. Saw a rejection CS on M15, but then price make another high. Possible ending diagonal.
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.