Gold - a simple trade on average

FX_IDC:XAUUSD   Gold / US-Dollar
213 4
Gold has made a .618 + retracement of Intermediate wave 1. Over the last 3 days price has moved up , and on Friday closed above the 10 MAV .

Entry 1- choice to enter at the 10 MAV value on Monday or at market open price.

Stop - beneath the candle breaking the 10 MAV = 1249.80

Entry 2 - if price moves up beyond the 20 MAV , set a pending order to buy at the value of the 20 MAV .

Stop - beneath the candle breaking the 20 MAV .


1. The Upper 2SD Bollinger band = 1291.66

2. Equal legs extension of intermediate wave 1 = 1322.59

3. 1.27 Fib extension of intermediate wave 1 = 1344.77

4. Prior Key Swing High ( and 1.618 fib extension) = 1375


1. Protective stop is hit = 700 pip loss. Trade is invalidated and closed.

2. Confirmed break of 10 MAV . Partial closure of trade if wished.

3. Confirmed break of 20 MAV . Trade is closed.

***** A confirmed break is daily close beneath the moving average. A wick does not count.
Looks good for the next price movement.
@7878max, Yes maybe. I would only have a small position size on the first entry.... just in case price moves towards the trendline support area. A break of the 20 mav would have a larger position size, as it is more likely the trend to the upside has resumed.... :)
7878max salsapete
@salsapete, I agree trend is key always. It's worth noting that this may be a 3rd of a 3rd wave that could be very impulsive. I'm keep my eyes peeled for that type of wave attribute.
@7878max, Yes my thinking is when the minor wave 1 high is broken , this will rocket with the impulsive . So that is another place ( possibly the best) to add to a position. :)
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden