Gold Analysis==>>Correction Time!!!
Updated
Gold( 
XAUUSD ) entered the Potential Reversal Zone(PRZ)[$2,800-$2,745], as I expected in the previous post. (The Long position is closed.)
Gold is moving near the Upper lines of Ascending Channels.
According to Elliott's wave theory, Gold is completing microwave 5 of microwave 5 of main wave 5. So we have to wait for the CORRECTION.
Also, Regular Divergence(RD-) between Consecutive Peaks.
I expect Gold to decline to at least the lower line of the ascending channel(Big) and the Support zone($2,686-$2,666) after breaking the lower line of the ascending channel(Small).
⚠️Note: If Gold can form a 4-hour candle above $2,800, we should expect gold to increase and pump again.⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XAUUSD ) entered the Potential Reversal Zone(PRZ)[$2,800-$2,745], as I expected in the previous post. (The Long position is closed.)Gold is moving near the Upper lines of Ascending Channels.
According to Elliott's wave theory, Gold is completing microwave 5 of microwave 5 of main wave 5. So we have to wait for the CORRECTION.
Also, Regular Divergence(RD-) between Consecutive Peaks.
I expect Gold to decline to at least the lower line of the ascending channel(Big) and the Support zone($2,686-$2,666) after breaking the lower line of the ascending channel(Small).
⚠️Note: If Gold can form a 4-hour candle above $2,800, we should expect gold to increase and pump again.⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade was activatedTrade closed: target reached
First Target DoneNote
The scenario can change if Gold goes over $2761, but correction is still possible.
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