ravaye27

#GOLD #XAUUSD #ELLIOTWAVE TRADING SETUP

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
OFLATE GOLD HAS BEEN MAKING LOWER HIGH AND LOWER LOW STRUCTURE...BUT AS PER ELLIOT WAVE ....THIS DOWN TREND APPEARS TO BE CORRECTIVE STRUCTURE.....HENCE WITH KEY SUPPORT BEING NOT BREACHED....AND I SEE AN IMPULSE SETUP AT THE BOTTOM AS SHOWN....AND CURRENTLY THE DOWN MOVE IN PROGRESS COULD BE CORRECTING THE IMPULSE....BUT TILL MAJOR HURDLE IS NOT BREACHED WE CAN TRADE THE SETUP AS ''PULL BACK SETUP''....ONCE MAJOR HURDLE GETS BREACHED...ONE CAN PLAN FOR TRADE WITH BIGGER POSITION SIZE...
HAVING SHARED THE VIEW...SUGGEST THAT ONE SHOULD PLAN THEIR ENTRY AS PER THEIR RISK,KNOWLEDGE AND SKILLS AND TRADING STYLE...
PLAN A:
TRY TO ENTER AS NEAR AS POSSIBLE NEAR THE INVALIDATION POINT OR LOOK FOR REVESAL SYMPTOMS IN SUPPORT ZONE
PLAN B:(FOR CONSERVATIVE TRADERS)
TRY TO ENTER AS WAVE B GETS TAKEN OUT....FOLLOW UR OWN ENTRY STRATEGIES (BREAKOUT/RETEST/ANY INDICATOR SETUP)
GOOD LUCK

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