Forex Trading Technical Analysis

Hello Traders I'm going to be analysing gold versus the US dollar

The daily time frame you really have to kind of pay attention to the US dollar to be that nieve this pattern but I definitely see one down that looks like an A I see three waves up look like a b and I see almost a perfect down to Runway here looks like a wave C we really haven't been able to break above that wave four stutters yet but we have almost a perfect five-way pattern going right to the Fibonacci 50 level and the dollar is already broken it structure so I really think there's a very good the likelihood that this has already ended at wave C and then we're just going to keep on trending up from here

let's take it down to the four-hour time frame on the four-hour time frame, we're definitely Beyond 78 of this move which tells me that it is most likely going to break sponsor and that we definitely should now be looking for Longs and an uptrend I think this is going to be the end of wave C and I think that if this really is over that we are now back into an uptrend on the much longer time frames

we do have to remember we have NFP news coming out in a few hours that's definitely a very big news event but for me, it really looks like this news has already played into the market and it even looks like it's already ended another ABC Cuts in here we had a three-way pattern back there I think it's going to break structure today I think it's going to take out that high and I am definitely now looking for Longs and an uptrend at the end of any of these ABC questions that I may see from this point forward because if this really is the end of a wave C back here then we are now back into a big uptrend on the much much longer time frames

Happy Trading Good Luck