Hello everyone
Before we start discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
XAUUSD :
Please first read my last analysis about gold from the link below.
I determined clusters for wave 5 using Fibonacci external retracement wave 4 and Fibonacci extension wave 3 that is shown in the chart and I expected the price reacted to one of these cluster.
the price reacted well to the first zone that coincide with reaction to the lower line of parallel channel as the bullish ending channel.
the price moves as the wave 5, at the same time we see ending channel (bullish channel).
this kind of movement and channel with wave 5 Elliot alert us for buy.
now, I get the signal for buy. the price breaks the upper line of parallel channel.
where is my stop loss?
if you buy with channel breakout, you should place your stop loss below last bottom. you can use minor or major bottom according to your strategy.
where is my target?
the hardest section is to find a target optimally.
It is better your target is not smaller than your stop loss. My target is about 1800 $.
please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Before we start discussion, it is my pleasure to read your opinion on this post's comment section and support this idea with your likes if you enjoyed it !
XAUUSD :
Please first read my last analysis about gold from the link below.
I determined clusters for wave 5 using Fibonacci external retracement wave 4 and Fibonacci extension wave 3 that is shown in the chart and I expected the price reacted to one of these cluster.
the price reacted well to the first zone that coincide with reaction to the lower line of parallel channel as the bullish ending channel.
this kind of movement and channel with wave 5 Elliot alert us for buy.
now, I get the signal for buy. the price breaks the upper line of parallel channel.
where is my stop loss?
if you buy with channel breakout, you should place your stop loss below last bottom. you can use minor or major bottom according to your strategy.
where is my target?
the hardest section is to find a target optimally.
It is better your target is not smaller than your stop loss. My target is about 1800 $.
please remember any analysis can be failed. so, manage your risk and respect your stop loss.
Ide yang Berhubungan
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niktraders
about XAUUSD