Long

XAU/USD 27.11.2024

Updated

Hello Traders,

A quick update on gold: Wave Orange A is definitely completed. I’m now looking for bullish momentum, either as a 12345 setup (as I’ve drawn) or potentially as an ABC formation leading to my Orange B. The Fibonacci zones remain consistent regardless of the scenario.

At the moment, I already have two buy positions. My current target is the retracement level of Wave B. Once I can confirm whether the structure is forming an ABC to B or a 12345 setup, I’ll adjust my target accordingly to the relevant Fibonacci extension level.

Trade active

wave 3 finished wave 4 started another buy position from 2637. Sl is under the wave 4 fib levels

Trade closed manually

I think we'll get one more (low). Can be a low or just a little retracement in the fib areas. My chart idea will be updated tomorrow.

NeptenFX

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