XAUUSD 10/10/2024 correction is over?
Looking at H1 we see that the price is in a complex correction pattern WXY
During a complex correction, trying to label the waves accurately is very difficult and not feasible for real trading. Instead, we look for potential targets for the end of the corrective wave
I measure the end target of wave Y at 2 price zones, which are the 2589 - 2586 zone and the 2575 - 2572 price zone, which is also the price zone where we set the BUY target
Looking at the sideway price zone, we see that in this zone, there are 2 large supply zones, which are the 2639 - 2642 zone and the 3670 - 2673 zone, which will also be our SELL target zone
At the moment, my expectation is to catch the bottom of the upcoming uptrend, so we will pay special attention to the BUY zones
Trading plan
BUY ZONE: 2589 - 2586
SL: 2584
TP1: 2606
TP2: 2622
TP3: 2661
BUY ZONE: 2575 - 2572
SL: 2565
TP1: 2585
TP2: 2606
TP3: 2661
SELL ZONE: 2639 - 2642
SL: 2650
TP1: 2625
TP2: 2606
TP3: 2594
SELL ZONE: 2670 - 2673
SL: 2680
TP1: 2662
TP2: 2641
TP3: 2625
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