XAUUSD, 2hr tf, buy the wave-C correction of Elliott Wave

13 พ.ย. 2020

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

16 พ.ย. 2020

ปิดการเทรด ด้วยตนเอง

closed manually this trade at 1894
booking +150 pips or 2.5R and banked +5% profit