OANDA:XAUUSD   Gold Spot / U.S. Dollar
✅PREVIOUSLY ON GOLD
It's thought that the bullish trend has begun since 1753

*I recounted waves.
✅WHERE WE ARE
There's 5 waves from 1753 to 1831.
1831 can be counted as 1(white).
If so, we should've recognized the beginning of the next impulse as usual.
As of yesterday, 1801 was a good level to be bullish because of Fib38.2 and the support lines.
The support lines which I had drawn have worked well since 1753.

Yesterday's low(1798) can be thought as 2(white) as of now.
However, there is the very strong resistance zone around 1817 - 1820.
As one strategy, just keep yesterday's long. If it's broken, we'd recognize the next bullish point.
Try not to catch the price after the bullish wave starts because we should be bullish as low as possible.

*As long as 1784 remains unbroken, this idea is valid.


💡The absolute principle for trading💡
BUY - as low as possible
SELL - as high as possible

PLEASE DO NOT FORGET TO SMASH LIKE👍🏻 AND FOLLOW ME❤ IT MOTIVATES ME TO THE NEXT IDEA! THANK YOU 🎉

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.