Ending Diagonal in a C wave. Bearish Cypher allowing the rise towards the Fibs. H&S as the reversal pattern.
Strategy: one in the green, moving SL to BE. This will allow shorting later, with lowest risk.
Nota
SL placed at BE, with the intention to hunt the short.
Nota
One more rise should occur, followed by a deeper fall. Shorting around 1540-1545, with the long in place, at break-even. Taking profit on the long as it unfolds and confirms the fall (breach).
Trade fechado: stop atingido
Quick short-term long stopped out in small profit.
Nota
Short (bearish leg) caught in due time, with a gain.
Trade ativo
Bullish retracement in play, until the reversal Fibs.
Trade fechado: stop atingido
SL reached for the attempt to go long again.
Trade ativo
A pull-back on XAUUSD would occur before the bigger fall would start.
Why am I saying that?
- Lower trend-line of the channel could provide support. - Bullish Divergence could start the bullish sequence. - Secondary H&S awaiting - 5 waves down should be followed by a 3 wave pull-back - Harmonics agree with a retracement - Correlations would support this, as the VIX is about to continue the spike and global Indices are sitting on the edge of the cliff - Fundamentally speaking, risk-off is around the corner
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