Gold(
XAUUSD) currently appears to have broken through the Resistance zone($3,350-$3,325).
The Resistance zone($3,350-$3,325) was broken with the help of the Descending Broadening Wedge Pattern, the upper line of this classic pattern having served as an important resistance line for us in previous ideas.
In terms of Elliott wave theory, Gold has completed the Double Three Correction(WXY) within the Descending Broadening Wedge Pattern. It is currently completing the next five impulse waves. Wave 5 of these waves could end in the Potential Reversal Zone(PRZ)[$3,393-$3,379].
I expect Gold to rise to the Potential Reversal Zone(PRZ)[$3,393-$3,379], and of course, given the momentum of gold approaching PRZ, we can also look for Short positions in PRZ.
Note: Stop Loss (SL) = $3,329
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) currently appears to have broken through the Resistance zone($3,350-$3,325).The Resistance zone($3,350-$3,325) was broken with the help of the Descending Broadening Wedge Pattern, the upper line of this classic pattern having served as an important resistance line for us in previous ideas.
In terms of Elliott wave theory, Gold has completed the Double Three Correction(WXY) within the Descending Broadening Wedge Pattern. It is currently completing the next five impulse waves. Wave 5 of these waves could end in the Potential Reversal Zone(PRZ)[$3,393-$3,379].
I expect Gold to rise to the Potential Reversal Zone(PRZ)[$3,393-$3,379], and of course, given the momentum of gold approaching PRZ, we can also look for Short positions in PRZ.
Note: Stop Loss (SL) = $3,329
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 Note
You can transfer your Stop Loss (SL) to Entry Point (EP) for risk-free trading = $3,351Trade closed manually
Risk Free was touched, Gold was not able to touch the Potential Reversal Zone(PRZ)[$3,393-$3,379]
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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.