XAU/USD (FOREX GOLD):- Daily NEo Wave Plot 1.04.2014

XAU/USD (FOREX GOLD):-

Daily NEo Wave Plot 1.04.2014

INITIAL WATCH :-

Positive:-If XAU/USD will prove good to hold above 1288.23 then we can see 1292.02/1298.57.

Negative:-If XAU/USD is not able to hold above 1288.23 then we can see 1271.51

 

 










Let understand NEo Wave logics behind the trade with following chart and their descriptions.

PREFFERD STRUCTURE :- “Irregular Failure Flat”

Minor Degree Wave (a) :-

1289.20(27.3.2014) to 1298.72(28.3.2014)=9.52pts (2DTU).

Minor Degree Wave (b):-

                                                1298.72(28.3.14) to 1285.70(28.3.14)=13.02pts (2DTU).

Minor Degree Wave (c):-

                                                1285.70(28.3.2014) to 1298.57(31.3.2014)=12.87pts(2DTU).

Ø  For choosing label between :L5 and :c3 need some more price action .if we consider :L5 is the label  then we can see the Post Pattern Implication of irregular failure flat which retrace whole pattern. Ø  When B retrace more than 100% of wave A,It comes under irregular behavior and as goes above 138.2% But less than 161.8% there is virtual guarantee that wave C will never retrace all of Wave B and wave C should become failure and entire pattern is known as “IRREGULAR FAILURE FLAT”. The irregular Failure flat can occure if wave B even retrace 101% of wave  A but Wave C fail to retrace all of Wave B. Preferred  Structure Target :-1271.51 Alternative Structure Target:-1292.02/1298.57 Happy Disciplined Trading!! Thank You.

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