XAUUSD - DAILY CHART EW
THIS IS NOT A TRADING ADVICE!!!
Fundamentally, I expect that China will wait to see the chance of Trump in presidential elections that is why I do not expect them to agree on trade now.
Technically, I have the following reasons to be bullish.
Starting from 1953 low, movement seems to be an impulsive wave 12345, we are currently ending wave 4 and starting wave 5.
https://fxtop.com/en/historical-exchange-rates.php?A=1&C1=XAU&C2=USD&DD1=01&MM1=01&YYYY1=1953&B=1&P=&I=1&DD2=07&MM2=08&YYYY2=2019&btnOK=Go%21
Monthly chart
Pitchfork at logarithmic scale
Finalization of wave 4 has not been confirmed yet, but based on timescale and momentum, I believe that wave 5 has started with two possible targets marked on the chart.
Fundamentally, I expect that China will wait to see the chance of Trump in presidential elections that is why I do not expect them to agree on trade now.
Technically, I have the following reasons to be bullish.
Starting from 1953 low, movement seems to be an impulsive wave 12345, we are currently ending wave 4 and starting wave 5.
https://fxtop.com/en/historical-exchange-rates.php?A=1&C1=XAU&C2=USD&DD1=01&MM1=01&YYYY1=1953&B=1&P=&I=1&DD2=07&MM2=08&YYYY2=2019&btnOK=Go%21
Monthly chart
Pitchfork at logarithmic scale
Finalization of wave 4 has not been confirmed yet, but based on timescale and momentum, I believe that wave 5 has started with two possible targets marked on the chart.
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