Gold/USD Downtrend continuation with Elliott Wave
First time looking at GOLD/USD please bear with me.
- Market close at same price as last week, which strengthen this support area.
- Might be starting the 4th wave of an Elliott Wave
- Then start the 5th one after bouncing off trend line + Low of Wave 1
Entry :
- Below Close of 2 Last weeks
Exit :
- S/L few pips above minor resistance area
- T/P at 1316.00 because I love round number and I don't really know where it's heading so I'd rather secure a trade with R/R ratio ≥ 2
- Market close at same price as last week, which strengthen this support area.
- Might be starting the 4th wave of an Elliott Wave
- Then start the 5th one after bouncing off trend line + Low of Wave 1
Entry :
- Below Close of 2 Last weeks
Exit :
- S/L few pips above minor resistance area
- T/P at 1316.00 because I love round number and I don't really know where it's heading so I'd rather secure a trade with R/R ratio ≥ 2
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