EuroMotif

XAUUSD short term retrace before more drop: Gold wave 3 watch

EuroMotif Mod Aktualisiert   
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Quick short term plot to evaluate the retrace from drop, tying to get the BIG drop down.

The first push down was a perfect 12345, to make wave 1 in theory.
Now looking for an ABC to make wave 2 back up.
Then trying to catch wave 3 down for what might be a big drop.

It is actually possible that wave 2 is done already and wave 3 is starting, which would be proven by making a new lower low.

This is an update to my bigger picture trade idea posted earlier:
Kommentar:
Here we are. Will it bounce? or did I miss the short?
Kommentar:
Pierced my support a bit, but got a slight bounce at London Open. Lets see if it forms a wave C or not, which in theory should be sub set of 5 waves
Kommentar:
Bounce still alive
Kommentar:
The moment of truth is here
Kommentar:
Looking good for my short thus far
Kommentar:
so much for that plan. I did get a short in at the dip shown in last pic. But trailing stop got hit with minor profit. Now back to the drawing board.

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.