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Neowaveanalysis

First short gold, then short goldI mainly use NEOWAVE for this analysis. Based on the time frame (TF) I consider, GOLD is now doing a corrective wave (B) after it completes the non-standard correction wave (A). At the time I am writing my analysis, GOLD has a strong decline, after the label c, which is a good timing for shorting. However, there is also a considerable possibility that the wave B is not yet complete, by considering the current wave as the wave x of the non-standard correction, with target price (TP) at 1780. Nevertheless, I would say that the short position is still a better bet for GOLD at the moment. My first TP is 1746, whereas my second TP would be at 1742. Please kindly note that this analysis is NOT A FINANCIAL ADVICE . Good luck!
TVC:GOLDShort
by lordachita
3
Does Gold doing wave C? part 2According to the previous idea, After the price reached 138.2% of a, The price makes a reversal pattern on TF4H (plus MACD doing bullish divergence in TF1H), So I decide to enter the 1st Buy position. (For now moving SL in front of EP, Risk = 0), To enter the 2nd position, Waiting for the price action around the end of wave b (Continue pattern, plus bullish divergence in a smaller time frame like 15m to 1H or wait for a breakout), About the bigger time frame If price going as analyzed, The target will be around 1771$ and should be reach around 15 to 22 November. OANDA:XAUUSD
OANDA:XAUUSDLong
by MANGDANA