The chart is very bearish and to conform with the current momentum, I will try to sell XAUEUR if it pulls back to the purple resistance and ride it down to support trend line.
Risk = 1.2%
RRR = 1.5 to 1.6
Hi
I am glad I put some of my money from crypto to silver few months ago for days like these.
Now situation is not how to make money but how to safe current wealth. In the chart we can see that DXY is rising and Gold is rising, when usualy
DXY up, gold is down, but this time is different because of inflation, not because of healthy economic factors. GOLD is not...
Shooting star on the one day time-frame. A possible drop from around 1799 to a 1790 position.
the 1821 support and resistance was hit but did not manage to break it
XAUEUR has broken the support level of 1780 during the NY session last night.
The Asian session saw a pull back and would have a good chance of continuing to the downside.
I have shorted already.
SL and TP as on chart.
price got to the pd array now we waiting to buy discount prices for the next move up. you can get in at the area highlighted limits and stops are your friend dont buy at market price.
The current structure is in the sub-wave B of the 4th wave. Since the 4th wave A is a simple wave, the B wave is a complex wave. When the B wave ends, the C wave starts.
Because the third sub-wave of the third wave is prolonged, the fifth sub-wave is no longer prolonged, the third wave has ended, and the callback of the fourth wave starts. Because the second wave is flat, the fourth wave is zigzag or flat. According to whether the first sub-wave of the fourth wave is 5 or 3, the final target position is determined.
POTENTIAL LONG TRADE SET UP FOR #XAUEUR.
⚠️ Do your research and apply proper risk management as nothing is guaranteed in forex trading. As we have often said, this is a high risk venture and past performance is not indicative of future results. Trade Responsibly!
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