Quick Take: Post-FOMC Gold Analysis

In a previous post a few days ago, I gave the suggestion to go LONG based on my wave count and that Gold had reached a critical zone where a confluence of factors came together to provide strong support.

Well, I went LONG at that point but also got stopped out when I moved my SL to B/E before the FOMC as there was much doubt as to how Gold would react. But now that the FOMC is over, Gold has now followed my projections and is headed higher in an ending wave (5). After this wave (5) is done, we should see a MASSIVE opportunity to SELL. But first things first.....wait for a pullback to get LONG....

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Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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Kommentar:

Gold update wave count.....