XAUUSD Trend Analysis
Updated
Hello there,
If Gold price falls below 2325.030 (the fourth wave) and forms a strong lower high below 2297.911, this could indicate a shift in the trend bias.
Currently, the trend bias is bullish on both the daily and weekly time frames. However, there is a weakening weekly candlestick that suggests bearish momentum in the lower time frames.
The level of 2422.325 is significant for long positions, with a target bias of 2559.718.
Happy trading and have a great weekend,
K.
If Gold price falls below 2325.030 (the fourth wave) and forms a strong lower high below 2297.911, this could indicate a shift in the trend bias.
Currently, the trend bias is bullish on both the daily and weekly time frames. However, there is a weakening weekly candlestick that suggests bearish momentum in the lower time frames.
The level of 2422.325 is significant for long positions, with a target bias of 2559.718.
Happy trading and have a great weekend,
K.
Note
First Tp successful.Trade closed: target reached
I am glad the trade turned out well; it was really interesting.
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