XAU/USD (GOLD) - Bearish Minor 2 - Short-Term SELL
XAU/USD (GOLD) is still overall Bullish but about to start a Correction before a Major Up-Trend.
Forecast for this Precious Metal is Short-Term SELL and Long-Term BUY.
The current Medium-Term Up-Trend which started on the 10th of March is about to end its Cycle and is in fact a piece of the puzzle for the entire Bullish Intermediate (3) (light blue), which is most likely going to be extended with its Minor Sub-Waves.
Therefore, Minor Wave 1 (green) is preparing to end and leave room for a Correction commenced by Minor 2 (green).
Minor 1 (green) is an Impulse and was formed out of 5 Sub-Waves, the Minutes (blue).
We can confirm the fact that we are within the Minute Wave V (blue) and that a Corrective Structure is approaching because there are clearer signs pointing towards that, such as the Running Flat Formation within Minute IV (blue) and the Leading Diagonal which is still unfolding.
Such Leading Diagonal Scenario was also available in our previous SHORT trade posted on XAU/USD (GOLD).
Price Action is being drawn towards the Vibration Levels and Point of Interest for both buyers and sellers, and for a Bullish Breach to take place, a Retracement is needed before the Retest.
These Levels are extremely important due to the previous Support-Resistances reactions seen in the beginning-middle of SEP 2016 and beginning of NOV 2016.
Minute Wave V (blue) is about to finalize its last leg, with Minuette V (black) on the move.
XAU/USD (GOLD) is most likely going to finalize Minor 1 (green) Cycle with a Bearish Divergence in Minute V (blue), so we will be watching out for it, however, the Bearish Divergence is already present, just that we will be more satisfied with another (and final) local high while the Bullish Volumes would decrease.
After the Minor 2 (green) Correction, we will be very interested in a Medium-Long Term BUY position for Minor 3 (green), which being the 3 of 3's in EW, is expected to have great power and huge Bullish Swings.
XAU/USD (GOLD) - Short & Medium Term - SELL Positions:
Aggressive Entry - 1303.00
SL - 1325.00
Moderate Entry - 1315.00
SL - 1345.00
Conservative Entry - 1325.00
SL - 1360
TP 1 - 1250.00
TP 2 - 1235.00
* Safety Measures:
- when in the green, move SL to break-even or in profit
- watch for Bullish Divergence and get in on confirmation
- if very conservative, wait for Bearish Breach of current Leading Diagonal Trend-Line and look for a Flag Formation
Many pips ahead!
Forecast for this Precious Metal is Short-Term SELL and Long-Term BUY.
The current Medium-Term Up-Trend which started on the 10th of March is about to end its Cycle and is in fact a piece of the puzzle for the entire Bullish Intermediate (3) (light blue), which is most likely going to be extended with its Minor Sub-Waves.
Therefore, Minor Wave 1 (green) is preparing to end and leave room for a Correction commenced by Minor 2 (green).
Minor 1 (green) is an Impulse and was formed out of 5 Sub-Waves, the Minutes (blue).
We can confirm the fact that we are within the Minute Wave V (blue) and that a Corrective Structure is approaching because there are clearer signs pointing towards that, such as the Running Flat Formation within Minute IV (blue) and the Leading Diagonal which is still unfolding.
Such Leading Diagonal Scenario was also available in our previous SHORT trade posted on XAU/USD (GOLD).
Price Action is being drawn towards the Vibration Levels and Point of Interest for both buyers and sellers, and for a Bullish Breach to take place, a Retracement is needed before the Retest.
These Levels are extremely important due to the previous Support-Resistances reactions seen in the beginning-middle of SEP 2016 and beginning of NOV 2016.
Minute Wave V (blue) is about to finalize its last leg, with Minuette V (black) on the move.
XAU/USD (GOLD) is most likely going to finalize Minor 1 (green) Cycle with a Bearish Divergence in Minute V (blue), so we will be watching out for it, however, the Bearish Divergence is already present, just that we will be more satisfied with another (and final) local high while the Bullish Volumes would decrease.
After the Minor 2 (green) Correction, we will be very interested in a Medium-Long Term BUY position for Minor 3 (green), which being the 3 of 3's in EW, is expected to have great power and huge Bullish Swings.
XAU/USD (GOLD) - Short & Medium Term - SELL Positions:
Aggressive Entry - 1303.00
SL - 1325.00
Moderate Entry - 1315.00
SL - 1345.00
Conservative Entry - 1325.00
SL - 1360
TP 1 - 1250.00
TP 2 - 1235.00
* Safety Measures:
- when in the green, move SL to break-even or in profit
- watch for Bullish Divergence and get in on confirmation
- if very conservative, wait for Bearish Breach of current Leading Diagonal Trend-Line and look for a Flag Formation
Many pips ahead!
İşlem kapandı: hedefe ulaştı:
Bearish Trend started prematurely.