XAUUSD, 4hr tf, selling pressure is stll here
Hello my friends,
I got into 1 more position during 30 October.
I tried analyzing XAUUSD with elliott waves and found a nice setup on XAUUSD.
Price now just completed wave-4 and we could see price rotate lower once again.
We could set our SL at wave-1 area as invalidation level because wave-4 could never touch wave-1 area according to the rules.
I took sell position at 1887 as there is also where the 50% fibonacci retacement level of wave-3.
Sell XAUUSD 1887
Stop loss 1895
Take profit 1855
RR ratio 1 : 4 (4R)
Use only 1-2% risk
Good luck
I got into 1 more position during 30 October.
I tried analyzing XAUUSD with elliott waves and found a nice setup on XAUUSD.
Price now just completed wave-4 and we could see price rotate lower once again.
We could set our SL at wave-1 area as invalidation level because wave-4 could never touch wave-1 area according to the rules.
I took sell position at 1887 as there is also where the 50% fibonacci retacement level of wave-3.
Sell XAUUSD 1887
Stop loss 1895
Take profit 1855
RR ratio 1 : 4 (4R)
Use only 1-2% risk
Good luck
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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.
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.