Long

Updated

Gold buy Setup

XAUUSD had been on a bullish trajectory for a while on the weekly timescale. It is currently now in a retracement. Using Elliot's wave correction as a template, we can anticipate the nature of the pullbacks, and where we might profit.
My current target is discount at 1920 about 930pips.
If we break the recent low, I would be looking for a 1h demand zone retest.

*As always, trade cautiously.

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hmmm

Trade active

I would be anticipating something like this on the 4H:

Trade active

I don't like the way this is looking. I have set my SL to BE. Price ought have broken the high already. So there is a possibility for a break of the low before we see bullish momentum.

Trade closed manually

I am out. The moment price broke that low, the pattern changed. Would look for a better entry or watch price reaction at the 1.618.

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Trade active

There might be another opportunity for entry.

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I am closing this trade.

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my expectations for this new week:

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4h is looking bullish. I would be looking for buy setups now.

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Trade active

We are almost at TP! what a ride!

Trade active

I took 90% profit of the trade at 1912. If there is a clear opportunity to buy to TP, I would add another position.

Trade closed: target reached

Sweet!!! 😍😍

SwingingPrime

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SwingingPrime

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