XAUUSD waiting at sidelines

XAUUSD

Hi Everyone

I am waiting at sideline for a breakout to happen either up breaking 1852 or down breaking 1819.

Uptrend started at 1617 and has paused at 1959. It is riding a correction wave downwards from 02 Feb. The cross up of 1852 (fibonacci 0.236) will tell us a V shaped cup pattern is getting started. Unless 1852 is crossed up don't enter a long position.

if it breaks 1819 downwards then it means short lookout has more edge. Next short target is going to be 1749 (fibonacci 0.618).

Comment:

still valid

Trade active:

Comment:

FIBO 0.236 at 1842 on retracement wave must be crossed to consider opening long position

Comment:

Opened LONG position @ 1846 !

Comment:

StopLoss @ 1827. Long position is closed..

Trade closed: stop reached:

Neutral until NFP news upcoming

Comment:

Entered long position at 1900 (fibo 0.618 of retracement Wave 2)

Trade active:

Very obvious short squeeze occured @ 1900 whipsawing sellers.

Comment:

Crossing up of 1960 will confirm beginning of impulse wave 3 with targets shown on chart

Trade active:

Targets are still valid :
2078 (fibo 0.786 of Wave 3)
2152 (fibo 1.0 of Wave 3)
2366 (fibo 1.618 of Wave 3)

Trade active:

Trade active:

Targets are still valid :
2078 (fibo 0.786 of Wave 3)
2152 (fibo 1.0 of Wave 3)
2366 (fibo 1.618 of Wave 3)