Gold started to rise well from the Support zone($2,645-$2,625) and 50_SMA(Daily).
Gold is moving near the Resistance zone($2,720-$2,700) and the lower line of the ascending channel (broken).
According to the Elliott wave theory, it seems that Gold has succeeded in completing microwave 3. We should wait for the completion of microwave 4, and then probably microwave 5 will end in the Resistance zone($2,720-$2,700) and Monthly Pivot Point.
⚠️Note: We should expect more pumps if Gold goes above the Resistance zone($2,720-$2,700).⚠️
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Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
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Trade active
Trade was activated(After Pullback).
Trade closed: target reached
5 microwaves were completed, and I closed my Position in the resistance zone; probably Gold will drop at least to $2677.
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