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Attachments: Gold (Elliott Wave Analysis)
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Gold (Elliott Wave Analysis)

This is a Plan A for the day - depends on what US session news outcome - If the market starts to push down from here showing weakness or reversal signs against the uptrend then this might might takes place specially the orange trendline sups will defiantly decide if the market keeps pushes up in extension moves or the trend is consumed already and a breakout of the trend line occurs and then will be shorting gold

This is H1 time frame Elliot Wave plan for the day as I said BIAS is the hardest part to overcome when trading with the wave theory
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I Have Learned to Take Some Losses to Make Profits
Quoting TheScorpS
This is a Plan A for the day - depends on what US session news outcome - If the market starts to push down from here showing weakness or reversal signs against the uptrend then this might might takes place specially the orange trendline sups will defiantly decide if the market keeps pushes up in extension moves or the trend is consumed already and a breakout of the trend line occurs and then will be shorting gold This is H1 time frame Elliot Wave plan for the day as I said BIAS is the hardest part to overcome when trading with the wave theory {image}...
Based on my analysis, I believe 2711 will serve as a strong selling point for a downward move. Once the support level is broken, we can confidently confirm the bear trend, targeting the C wave point.
SURFER
The market is constantly changing, and it can be difficult to keep up with every update in the thread. It’s better to focus on my trade for now. Looking at the gold market, it seems that the price is aiming to rise above 2711 again.
SURFER
Quoting Elliottway
The market is constantly changing, and it can be difficult to keep up with every update in the thread. It’s better to focus on my trade for now. Looking at the gold market, it seems that the price is aiming to rise above 2711 again.
I think it is aiming for a new ATH brother. An established move always take time before it changes to the opposite direction.
Learn... Work Hard... Trade Alone
Quoting BiteFX
{quote} I think it is aiming for a new ATH brother. An established move always take time before it changes to the opposite direction.
The next resistance level to watch is 2730, which could potentially shift to take the support.
SURFER
Quoting Elliottway
{quote} The next resistance level to watch is 2730, which could potentially shift to take the support.
Ok, I'll keep a watch.
Learn... Work Hard... Trade Alone
Hi there,
To all those Medium to Long Term Gold Shorters, I have a question.

How much are you guys relying on the "Carry" Factor of the XAU Short trade?
It's known that as a non-yielding asset one of the appeals of shorting this symbol is its Swap.

I ask this question because I am short on this symbol on one broker I work with, and since the middle of December (on and off) swap has been turning sometimes Negative, SOmetimes positive, which makes to me no sense as the Interest Rate on EUR has become more or less constant and in XAU's case always Zero.

I can provide the name of this 3 brokers on DM (just shoot me a dm)

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I am trying to understand the reasons behind these erratic behaviour on the swap and also why this happens with certain brokers and not others.

Any insights from experienced Carry Traders, people who know how brokers work, or knowledgeable people in general, I'd be greatly thankful !!
Quoting ArrietaTech
Hi there, To all those Medium to Long Term Gold Shorters, I have a question. How much are you guys relying on the "Carry" Factor of the XAU Short trade? It's known that as a non-yielding asset one of the appeals of shorting this symbol is its Swap. I ask this question because I am short on this symbol on one broker I work with, and since the middle of December (on and off) swap has been turning sometimes Negative, SOmetimes positive, which makes to me no sense as the Interest Rate on EUR has become more or less constant and in XAU's case always...
Thank you so much for your kind words and appreciation. I’m glad you found the information helpful! If you could kindly share where you collected this information from, it would be very useful for me to ensure this will help me, even better in the future.
SURFER
Enjoy EW trading plan XAUUSD 4H
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Hi. I found this thread after starting one dedicated to Ending Contracting Diagonal patterns.

Gold appears to be setting up for a significant drop.

Checkout my post here.
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  • Last Post: Feb 3, 2025 2:32pm Feb 3, 2025 2:32pm
I'm new to this forum but i'm really interested in Elliot theory i will buy the books from prechter and Ramakrishnan to study this material. For now i'm using the ATS method which is wyckoff it works pretty good. I truly believe that we can trade just by seeing the price and that price moves by repetitive patterns. Keep posting i'm learning from you as well
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