Gold(
XAUUSD) has hit the targets as I shared with you in yesterday's idae. Will this uptrend of the past 5-6 days continue?
Gold seems to have broken through the Resistance zone($3,387-$3,357) and has been moving in an Ascending Channel for the past 5 days.
In terms of Elliott Wave theory, Gold appears to be completing microwave 5 of the main wave 3. The end of the main wave 3 can be at the Potential Reversal Zone(PRZ)[$3,440-$3,421].
Also, expect to see a clear Regular Divergence(RD-) between Consecutive Peaks at the Resistance zone($3,434-$3,406).
I expect Gold to start declining from the Potential Reversal Zone(PRZ)[$3,440-$3,421] and at least to the lower line of the ascending channel. This analysis is against the main trend, so pay more attention to money management.
Note: If Gold touches $3,448(Stop Loss(SL)), we can expect more pumps.
Note: If Gold falls below $3,342, we can expect a deeper decline than expected.
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) has hit the targets as I shared with you in yesterday's idae. Will this uptrend of the past 5-6 days continue?Gold seems to have broken through the Resistance zone($3,387-$3,357) and has been moving in an Ascending Channel for the past 5 days.
In terms of Elliott Wave theory, Gold appears to be completing microwave 5 of the main wave 3. The end of the main wave 3 can be at the Potential Reversal Zone(PRZ)[$3,440-$3,421].
Also, expect to see a clear Regular Divergence(RD-) between Consecutive Peaks at the Resistance zone($3,434-$3,406).
I expect Gold to start declining from the Potential Reversal Zone(PRZ)[$3,440-$3,421] and at least to the lower line of the ascending channel. This analysis is against the main trend, so pay more attention to money management.
Note: If Gold touches $3,448(Stop Loss(SL)), we can expect more pumps.
Note: If Gold falls below $3,342, we can expect a deeper decline than expected.
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
Short position was activated in Potential Reversal Zone(PRZ)[$3,440-$3,421]. PRZ could have been a good zone to close it if you have a long position.
Trade closed: target reached
Target Done
Note
Full Target Done
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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
Related publications
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.