Gold XAUUSD H4

















General overview for 08/01/2015:

The current wave progression might develop in two possible ways:
 – the first scenario indicates a possible impulsive wave progression to the upside, where wave i-ii had been made already and now wave -i- is done as well, so the corrective structure (a)(b)(c) must be completed now to continue with the upward progression. The level of 1141.14 CAN NOT be violated!
– the second scenario indicates a possible continuation of the downside move in order to complete wave 5 black. In that case the level of 1255.34 CAN NOT be violated!

Support/Resistance:
1130 – Swing Low
1141 – Invalidation Line
1145.35 – WS2
1166.13 – WS1
1188.02 – Weekly Pivot
1209.02 – WR1
1231.13 – WR2
1252.13 – WR3
1255.34 – Invalidation Line


Trading recommendations:
Please refrain from trading and wait for the important level to be broken.


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About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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