GOLD-XAU/USD started the Bullish Intermediate (C) (light blue) Wave as per the previously posted analysis.
Our posted Long Trade delivered Minor I (blue), with extensions in Minuettes (iii) & (iv) (black), with a Flat Structure in Minuette (iv) (black) and an Expanded Flat Structure in Sub-Minuette iv (pink).
As expected, GOLD-XAU/USD had an attempt to Breach though the upper Triangle Trend-Line (see Medium-Long Term post) and reversed after, unfolding the Corrective Minute II (blue).
Minute II (blue) is unfolding as a Zig-Zag Structure in its Minuette ABC sub-waves (red) and in our view, is about to complete and reverse from the 61.8% Fibonacci Retracements of Minute I (blue) but also from the 100% Fibonacci Extensions of Minuettes A & B (red).
As per several requests, we are posting another BUY Trade for those traders who are adding & compounding.
GOLD-XAU/USD – 3 of 3 Bullish Impulse – BUY Positions:
Entry Levels:
Aggressive – 1240.00
SL – 1225.00
Moderate – 1235.00
SL – 1210.00
TP – 1304.00
Medium-Long Term TP – 1375.00
*Safety Measures:
– When in the green, move SL to break-even or in profit.
