Simple chart analysis for XAUUSD
Following the uptrend, it will reach 2370 and above eventually. But it will first do another retracement for well made (4) of E.W. . Once finished, it will finish the structure.
Note: It can be in a slower peace and news doesn't need to impact inmediately. It can take a whole micro E.W. to reach lower goal and upper goal. I sugest to not start buying until confirmation is made.
Note: It can be in a slower peace and news doesn't need to impact inmediately. It can take a whole micro E.W. to reach lower goal and upper goal. I sugest to not start buying until confirmation is made.
Trade active
Is better loose the trade if can not be taken. Chart can do a bearish peak, but it won't go lower then 1 peak, so, you can put SL below 1 peak and go bullish.
Trade active
Bearish peak done as predicted. It's a good time to take the risk.
Note
300% fibonacci reached. 300% of minor E.W. still intact.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.