Potential Short Position GOLD - High Risk:Reward
Please see photo.
2 Safer Take Profit Zones. Price may pierce through the 4hr Head & Shoulders neckline with an extended wave. Higher probability of price bouncing up and rejecting off the Neck & Shoulders neckline, but you never know :)
Option 1: Take Profit 1.
Option 2: Take Profit 2.
Option 3: HOLD.
Please see links below for full analysis:
2 Safer Take Profit Zones. Price may pierce through the 4hr Head & Shoulders neckline with an extended wave. Higher probability of price bouncing up and rejecting off the Neck & Shoulders neckline, but you never know :)
Option 1: Take Profit 1.
Option 2: Take Profit 2.
Option 3: HOLD.
Please see links below for full analysis:
Сделка активна:
Re-entry at point E if you want a VERY tight stop loss and hence increasing your risk:reward ratio.
However 1294.10 is a relatively safe spot if you wish to increase the likelihood of the trade remaining active.
If you like my analysis, please like and follow me :) I would really appreciate it!
Please click the above links to read more on my explanations and Elliot Wave analysis.
This short position could be incorrect. I've given a probable setup in my eyes.
Happy Trading!! :D
However 1294.10 is a relatively safe spot if you wish to increase the likelihood of the trade remaining active.
If you like my analysis, please like and follow me :) I would really appreciate it!
Please click the above links to read more on my explanations and Elliot Wave analysis.
This short position could be incorrect. I've given a probable setup in my eyes.
Happy Trading!! :D
Сделка активна:
Trade still valid with 1294.10 STOP loss in effect. Re-adjusted ABCDE triangle.
Комментарий:
Sorry, forgot to arrange the ABCDE
Сделка активна:
Not too late to get in guys!
Сделка активна:
Take Profit #1 target met.
Комментарий:
Highly possible that wave 4-5 as ended (equaled the same length as wave 0-1) Therefore if that's the case, price is rejecting off and breaking a trendline. I believe this could be the start of the ABC correction. However please be wary that there are core U.S data being released in 5 minutes and in 1 and a half hours.
Let's see how price reacts from here.
Set tight stop losses and STRICT risk MANAGEMENT.
Let's see how price reacts from here.
Set tight stop losses and STRICT risk MANAGEMENT.
Комментарий:
Two Things i see happening here:
1. Price is still correcting in wave 4 via a triangle.
2. Price will break right through here and continue down as the Wave 2-3 didn't reach it's intended Fibonacci Projection.
1. Price is still correcting in wave 4 via a triangle.
2. Price will break right through here and continue down as the Wave 2-3 didn't reach it's intended Fibonacci Projection.
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Better Triangle:
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Possible long set up for a 3 leg move of ABC to complete points D - E.