Trade Plan
Instrument: XAUUSD
TImeframe: H4
Description,
Price has been developing 5-wave cycles on Daily (see embedder analysis). Currently price is developing Wave 5 of internal 5th Wave visible on H4 (Dark blue).
Apparently price is sitting at Monthly Support (price 1705.25) with Wave 3 of 5. Price is likely to visit 1746.73 -1753 area for Wave 4 of 5 before resuming bearish correction for completion of Wave 5 of 5.
Plan 1: Intraday Buy back to Wave 4 (low Probability Trade)
Plan 2: Wait for Price to complete Wave 4 before entering a Bearish swing to 1700 -1680 area.
Disclaimer:
Charts are EDUCATIONAL, not INVESTMENT recommendation.
Instrument: XAUUSD
TImeframe: H4
Description,
Price has been developing 5-wave cycles on Daily (see embedder analysis). Currently price is developing Wave 5 of internal 5th Wave visible on H4 (Dark blue).
Apparently price is sitting at Monthly Support (price 1705.25) with Wave 3 of 5. Price is likely to visit 1746.73 -1753 area for Wave 4 of 5 before resuming bearish correction for completion of Wave 5 of 5.
Plan 1: Intraday Buy back to Wave 4 (low Probability Trade)
Plan 2: Wait for Price to complete Wave 4 before entering a Bearish swing to 1700 -1680 area.
Disclaimer:
Charts are EDUCATIONAL, not INVESTMENT recommendation.
