XAUUSD
This wave on the monthly chart is pretty much done. There could be a spur to $1400 but the magnitude of this move has been achieved on the monthly chart. There will be another wave of consolidation for the indicators to rest and return to normal. Impossible to run a marathon 2.47% with Usain Bolt's speed.
With the consolidation one will need to manage expectations as both top and bottoms would be valid. Trade with care as one can easily loose back what you earned during the trend phase. Manage the consolidation well, you could easily make 1-2 times of the magnitude of the trending phase.
For shorts, it would be good to wait till 1H MACD goes below zero before deciding on the actual entry of the short. Let the CAVALRY do the hard work of breaking down the line first. Trading boils down to 2 things; DECISION and PATIENCE.
With the consolidation one will need to manage expectations as both top and bottoms would be valid. Trade with care as one can easily loose back what you earned during the trend phase. Manage the consolidation well, you could easily make 1-2 times of the magnitude of the trending phase.
For shorts, it would be good to wait till 1H MACD goes below zero before deciding on the actual entry of the short. Let the CAVALRY do the hard work of breaking down the line first. Trading boils down to 2 things; DECISION and PATIENCE.
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