XAUUSD BOED
As titled. Because we had broken up from the yellow wedge, it has formed a motive wave and this drop has already been anticipated given that RSI was overbought. For now, my advice would be to buy on every drop on each fib level, starting from the 50% retracement. Target will be 1848 and SL will be 1792 since that would invalidate the impulse pattern.
Trade active
2nd buy limit activated at 1807.75Trade closed: stop reached
Trail stopped hit, all buy profits secured at 1821
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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.