GOLD LONG TO 1900!!!
Updated
Hello Traders!!!
I hope you are all having a wonderful start to 2023
Today we are trading
XAUUSD where we have found a solid zone for a long.
Why are we entering?
- We are in Bullish wave C of our correction which is the final wave
- We are expecting a rejection from our 0.5 fibonacci level before heading up in our final subwave 5
What is our confirmation?
- Rejection from our 0.5 fibonacci level
- Break of descending WFB (Watch For Break) trendline
- Rejection of 1HR EMA
Entry
- Safe Entry: Rejection of our 0.5 fibonacci & EMA with a break of WFB / 8HR EMA
- Risk Entry: Rejection of our 0.5 fibonacci level / EMA
- Risk Entry 2: Early break of WFB (Watch For Break)
Once entered, where will our Stoploss be?
- Below the structure & EMA: 1851 (50 pips)
Where do we take profits?
First TP - Previous high: 1885 (293pips)
Second TP - -0.27 fibonacci level: 1903 (468pips)
Final TP - Hold small amount incase we push higher
Be sure to follow me and check out my other ideas below!!!
I hope you are all having a wonderful start to 2023
Today we are trading
XAUUSD where we have found a solid zone for a long.Why are we entering?
- We are in Bullish wave C of our correction which is the final wave
- We are expecting a rejection from our 0.5 fibonacci level before heading up in our final subwave 5
What is our confirmation?
- Rejection from our 0.5 fibonacci level
- Break of descending WFB (Watch For Break) trendline
- Rejection of 1HR EMA
Entry
- Safe Entry: Rejection of our 0.5 fibonacci & EMA with a break of WFB / 8HR EMA
- Risk Entry: Rejection of our 0.5 fibonacci level / EMA
- Risk Entry 2: Early break of WFB (Watch For Break)
Once entered, where will our Stoploss be?
- Below the structure & EMA: 1851 (50 pips)
Where do we take profits?
First TP - Previous high: 1885 (293pips)
Second TP - -0.27 fibonacci level: 1903 (468pips)
Final TP - Hold small amount incase we push higher
Be sure to follow me and check out my other ideas below!!!
Order cancelled
Trade closed, price broken our descending structure prior to entry
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