Quick Take: Post-FOMC Gold Analysis
Updated
In a previous post a few days ago, I gave the suggestion to go LONG based on my wave count and that Gold had reached a critical zone where a confluence of factors came together to provide strong support.
Well, I went LONG at that point but also got stopped out when I moved my SL to B/E before the FOMC as there was much doubt as to how Gold would react. But now that the FOMC is over, Gold has now followed my projections and is headed higher in an ending wave (5). After this wave (5) is done, we should see a MASSIVE opportunity to SELL. But first things first.....wait for a pullback to get LONG....
Does this kind of analysis help you with your trading? Want more in-depth analysis of markets like this? Just subscribe to my website and you will get in-depth analysis, commentary, intraday updates, access to private chat rooms, REAL-TIME trade recommendations and trade updates and more!
Faceb00k: goo.gl/Mb81w7
Website: efxselect.com to subscribe
Join my Skype chat room! It's FREE (requires registration): Skype link: goo.gl/2fwvsa
Documented Trade Log here: bit.ly/29AeqnC
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
Well, I went LONG at that point but also got stopped out when I moved my SL to B/E before the FOMC as there was much doubt as to how Gold would react. But now that the FOMC is over, Gold has now followed my projections and is headed higher in an ending wave (5). After this wave (5) is done, we should see a MASSIVE opportunity to SELL. But first things first.....wait for a pullback to get LONG....
Does this kind of analysis help you with your trading? Want more in-depth analysis of markets like this? Just subscribe to my website and you will get in-depth analysis, commentary, intraday updates, access to private chat rooms, REAL-TIME trade recommendations and trade updates and more!
Faceb00k: goo.gl/Mb81w7
Website: efxselect.com to subscribe
Join my Skype chat room! It's FREE (requires registration): Skype link: goo.gl/2fwvsa
Documented Trade Log here: bit.ly/29AeqnC
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
Note
Gold update wave count.....
SPECIAL Report on the S&P 500. Read it here. It's FREE: bit.ly/2KGJ409spx818
Mailing list: bit.ly/2iNieEY
Facebook Group: facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.com
Mailing list: bit.ly/2iNieEY
Facebook Group: facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.com
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.