Traders!

We are proud to announce our trading desk posts; these posts contain detailed information about our favorite trades. The trading desk posts are meant to complement Juan’s daily videos, and to help you make your trading decisions.

Our goal is to teach you how to become a successful trader and all the trades posted are for educational purposes only. All trades are based on The Wavy Tunnel.

XAU/USD

Gold has been trending up during this month; the Elliott Wave analysis suggests that the cycle up corresponds to a corrective wave called “(B)” magenta. It seems that the correction is over and soon the wave “(C)” magenta will start the move down to a conservative target of 1214.

Elliott Wave converges with the head and shoulders pattern shown on the daily chart, where the current price action is building the right shoulder. The strategy is to use the Wavy Tunnel to trade from the completion of the right shoulder and once price breaks the neckline at 1223 to validate the H&S pattern, the conservative target of 1214 should be easily met.

Jumping to the short-term trend

The Wavy Tunnel agrees with Elliott Wave and the H&S Pattern, divergence is present, and the bungee cycles are complete. A pending order can be placed at 1258. The initial stop loss should be placed at the previous high and once the trade starts we suggest taking partial profits at 1252 and 1245, tighten the stop loss and enjoy the move down.


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We use Elliott Wave to find the direction of the market and the Wavy Tunnel to confirm and trigger the trades. If you are interested in learning more about Elliott Wave and the Wavy Tunnel, please visit: wavytunnelpro.com
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As a lifetime member of the Wavy Tunnel Course, we recommend that you review the modules again. Access the course here: http://elliottwaveultimate.com/login
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