Analyticssage

Gold Elliott wave update. 02.09.2020

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
All
this is what i think. just hold and wait so I can make sure the triangle is gonna confirm
there are several counts possible but this is the one has more chance
I am long in big picture but we might have some more pullbacks.


Comment:
we have 2 senarios based on different counts of the triangle
in both cases we are expecting an uptrend
I bought gold. when it goes up move you stop loss up to protect loss. if it breaks the triangle then you are winner, if i gets to wave e as I expect you will break even on the down trend

Comment:
perfect, my long position closed break even.
I am still expecting a higher wave E but that could also happen
don't short until the conformation level is hit
Comment:
Comment:
Comment:
I think wave E will be a triangle itself
Trade closed manually:
the triangle is confirmed

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.