Gold(
XAUUSD) started to correct at the Potential Reversal Zone(PRZ)[$3,150-$3,128] and near the upper line of the Ascending Channel. The question is, will we have a minor correction or a major correction(main)?
Gold is moving near Resistance lines and Fibonacci levels and was able to breaks the Uptrend lines. I view the upward movement of the last few hours as an upward correction, which will likely cause gold to fall again.
In terms of Elliott waves, it looks like Gold has completed a major wave 5 and I expect Gold to start a major corrective wave. In Gold's history, major impulse waves have completed precisely near the upper lines of ascending channels.
I expect Gold to decline at least to the Support zone($3,100-$3,085), if gold can break the lower line of the ascending channel, we can be more confident that we are in the main corrective waves.
Do you think Gold can create a new All-Time High(ATH) again?
Note: If Gold goes above $3,130, we can expect more pumps and a new All-Time High(ATH).
Gold Analyze ( XAUUSD ), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XAUUSD) started to correct at the Potential Reversal Zone(PRZ)[$3,150-$3,128] and near the upper line of the Ascending Channel. The question is, will we have a minor correction or a major correction(main)?Gold is moving near Resistance lines and Fibonacci levels and was able to breaks the Uptrend lines. I view the upward movement of the last few hours as an upward correction, which will likely cause gold to fall again.
In terms of Elliott waves, it looks like Gold has completed a major wave 5 and I expect Gold to start a major corrective wave. In Gold's history, major impulse waves have completed precisely near the upper lines of ascending channels.
I expect Gold to decline at least to the Support zone($3,100-$3,085), if gold can break the lower line of the ascending channel, we can be more confident that we are in the main corrective waves.
Do you think Gold can create a new All-Time High(ATH) again?
Note: If Gold goes above $3,130, we can expect more pumps and a new All-Time High(ATH).
Gold Analyze ( XAUUSD ), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade was activated
Trade closed: stop reached
Although Gold eventually fell, the financial markets are very agitated due to the imposition of tariffs and please observe more capital management I will end this analysis with a Stop Loss(SL) tag.
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
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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.