XAUUSD, 2hr tf, buy the wave-C correction of Elliott Wave
Hello my friends,
Another setup for today is XAUUSD.
Previously XAUUSD drop aggresively from 1960 to 1860 in just 1 day.
That drop could be categorized as an impulse, and we could expect an ABC correction after that.
Wave-A and Wave-B are completed and now we are on Wave-C.
I saw that Wave-C could go up untl 1907-1911 area so we could try buying it here.
Right now Wave-C is on the 3rd wave and there is a chance it was an extension.
Also the price action support for further upside because there was a bullish engulfing candle exactly on EMA support.
Buy XAUUSD 1879
Stop loss 1873
Take profit 1909 (5R)
RR Ratio 1 : 5
Use only 1-2% risk
Good luck
Another setup for today is XAUUSD.
Previously XAUUSD drop aggresively from 1960 to 1860 in just 1 day.
That drop could be categorized as an impulse, and we could expect an ABC correction after that.
Wave-A and Wave-B are completed and now we are on Wave-C.
I saw that Wave-C could go up untl 1907-1911 area so we could try buying it here.
Right now Wave-C is on the 3rd wave and there is a chance it was an extension.
Also the price action support for further upside because there was a bullish engulfing candle exactly on EMA support.
Buy XAUUSD 1879
Stop loss 1873
Take profit 1909 (5R)
RR Ratio 1 : 5
Use only 1-2% risk
Good luck
Trade closed manually
closed manually this trade at 1894booking +150 pips or 2.5R and banked +5% profit
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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.