Gold eyeing 1950
Price has been bearish for the last 5 days with strong momentum, it has tapped into a breaker block at 1957 and its showing some bullish momentum which I believe would push Price back to 1945-1950 region to retest a supply zone.
DXY has shown weakness has Price is moving with high bearish momentum which should push GOLD higher in the coming week.
Elliot Wave
I believe Price is correcting downwards on the daily, and it is currently printing out wave B of a zigzag pattern which would end at 1780-1800. At the moment we should see Price push up back to 1950 to complete the smaller wave c of the complex wave B
I would advise looking out for buying opportunities
So, I am buying up to the first TP at the supply zone drawn with SL at the bottom of the demand zone.
This is a long term trade. RIsk Management is advised
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
DXY has shown weakness has Price is moving with high bearish momentum which should push GOLD higher in the coming week.
Elliot Wave
I believe Price is correcting downwards on the daily, and it is currently printing out wave B of a zigzag pattern which would end at 1780-1800. At the moment we should see Price push up back to 1950 to complete the smaller wave c of the complex wave B
I would advise looking out for buying opportunities
So, I am buying up to the first TP at the supply zone drawn with SL at the bottom of the demand zone.
This is a long term trade. RIsk Management is advised
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.