XAUUSD:ITS FUN TO USE CHANNEL ABC TO FIND THE TARGET

Traders:

As our chart shows, its fun to find out CHANNEL ABC could always give us the direction of the trend.

Now in this 4H chart for gold, its easy to find out that more up is coming for gold as long as the blue channel is not finished.

Blue channel abc is the wave 3 of the yellow channel , still inside the yellow channel now.
But gold could break it up a little b further if gold all goes well. To me , this is a high possibility in April.

So now, at the end of March, gold made its choice by a strong green candle.
Long gold for a mid term wth to up to 1290-1300.

Less is more!

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retest of the channel.

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is the new channel abc going to finish and a new H&S coming?

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lets check next 4H.

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we have two possibilities for gold to go .

Giao dịch đang hoạt động:

we closed the long trade.
and short again.

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this time I want to see a 5waves- trend.

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if gold cant make a higher position today,
we will see its fall from today till next week.

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plan 1:
gold cant get higher than 1260
drop down to 1235-1220 zone
go long again.

plan 2:
gold get a fake breakthrough up tp 1280 (EXT FIBO 127)
go short then
drop down to 1240.

anyway, gold is really fragile on the top.
WATCH OUT!

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Giao dịch đang hoạt động:

PLAN 1
ENTRY AT 1255 THIS ASIA MORNING .

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SHORT TRADE ENTER AGAIN AT 1266 AFTER NFP.