GOLD 1000PIP SHORT

6 nov 2022

GOLD SHORT

Why are we entering?
- Expecting USD strength = GOLD SHORT
- We are in wave 5, subwave 5, microwave 3 in our Elliot wave analysis
- We are expecting price to reverse at our 0.618 fibonacci level

What is our confirmation?
- Rejection from our 0.618 fibonacci level
- Rejection from our trendline
- Rejection from our structure level

Entry
- Safe Entry: Rejection of our SELL zone with a break of our WFB
- Risk Entry: Rejection of our SELL zone
- Risk Entry 2: Early break of WFB

Once entered, where will our Stoploss be?
- Above our fibonacci: 1691 (50 pips)

Where do we take profits?
First TP - Previous low: 1617 (700pips)
Final TP - -0.27 fibonacci: 1587 (1000pips)

Be sure to check out my other trade ideas below!!!