XAU-USD Hedge Strategy

Main:

Sell Entering Point: 1256:45 $
Target: 1209.76 $ Y Wave.
Top Indicator/ Stop Loss: 1258.34 $ X Wave.
R/R Ratio: 24:1.

Counter Strategy (Alternative):

Buy Entering Point: 1238.40 $
Target: 1267.64 $ 2 or B Wave.
Bottom Indicator/Stop Loss: 1235.86 $ 1 or A Wave.
R/R Ratio: 15.18.

Commentary:

Hedge Strategy:

I took the main in 06/26, because the internal wave structure sizes better with W,X,Y, than with an Impulsive Pattern, but when market hit low of 1235.86 $, I covered my position buying on 1238.40 $. However my feeling is bearish.


Comment: The analysis was made by using 1h data, but counting on charting characteristics of this platform, it was better to forecast it with 1D, charts.