XAUUSD / Gold - Longterm Wave Analysis
Let's have a look at the most traded precious metal.
Gold formed an interesting pattern over the last year.
After the ABCDE triangle forming wave B, price broke out to the upside in 3 waves.
This ABC Move to the upside is the final C Wave of the Wave B correction.
At the Top, we have:
What is next for gold is the continuation of the Wave A movement, known as Wave C.
We should see a reather impulsive move to the downside, 5 Waves to new lows.
This is a long term play, no Intraday setup.
For educational purpose only. This is no investment advice.
Gold formed an interesting pattern over the last year.
After the ABCDE triangle forming wave B, price broke out to the upside in 3 waves.
This ABC Move to the upside is the final C Wave of the Wave B correction.
At the Top, we have:
- Weekly / 2-weeks / Monthly Sell signal
- RSI Divergence
- Fake Breakout above 61% Level of Wave A
- Super high Volume confirming the Sell of and positioning of the professionals
What is next for gold is the continuation of the Wave A movement, known as Wave C.
We should see a reather impulsive move to the downside, 5 Waves to new lows.
This is a long term play, no Intraday setup.
For educational purpose only. This is no investment advice.
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