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joe-abdallah

Irregular but effective setup for Gold

Panjang
Emas Semerta / Dolar A.S. (OANDA:XAUUSD)  
joe-abdallah  
OANDA:XAUUSD   Emas Semerta / Dolar A.S.
Trend Analysis Wave Analysis Fundamental Analysis wxy contractingtriangle Fibonacci Extension irregularcorrection Gold XAUUSD fed yen DXY
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trendanalysis waveanalysis fundamental wxy contractingtriangle fibonacciextension irregularcorrection gold xauusd fed yen dxy
As we can see on the chart, WXY pattern is clear with an irregular X wave (because of yesterday's Fed news), but still valid and didn't break the low of wave W.
A contracting triangle is forms wave B in the ABC pattern for wave W, even if a huge wick went out of it: closing above the downside of the triangle, this candle on H1 shows that the setup was still valid (second irregular form). Wave Y can be the extension of 0.618, 1 and fib level of wave W and X, to give a chance to this sideways trading market to take a direction.
Wait for 1690 and 1700,

Goodluck,
Joe.
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