XAUUSD - GOLD analysis by Elliot waves
Gold may go for long direction from prices between shaded area and is targeting 1800.
This is to be cancelled if prices reach 1607.
This is to be cancelled if prices reach 1607.
Trade active
Comment:
Gold now 1650 with 150 pips gain, long position will remain as long as price never breaks 1607
Comment:
Gold now is 1680 with 500 pips profit I suggest to secure the positions and close half of them and continue with others to target 1800
Comment:
shifting stop loss to 1659.3 is very important to secure long positions since wave 2 should not be broken
Comment:
as per updated chart below as H1 time frame I think the wave 3 is about to finish, awaiting prices to finish a correction as wave 5 (at shaded area between prices 1692 and 1682) is good opportunity for another long position.
This is to be failed if wave 4 breaks wave 1 at 1674 which it shouldn't be happened on impulsive wave rules
This is to be failed if wave 4 breaks wave 1 at 1674 which it shouldn't be happened on impulsive wave rules
Comment:
Revised wave 5 = wave 4
Trade active:
about 2000 pips profit secure positions please
Trade active:
achieved 3000 pips