Gold-short
GOLD SHORT TO 1687 (MID TERM VIEW)💥:Even though we are bullish on Gold long term, I still believe there's a chance that we could be entering a Wave 2 correction, which could lead into 2023🤔 If you look at the chart, you'll see market has or is just about to finish its 5 wave impulse move, which would mark the completion of Wave 1. This should technically be followed by Wave 2 correction, which should cross back below 'Wave IV' in order to count as a healthy retracement. This gives us the chance to target 1690-1670.
This leading into 2023 means Gold will have the chance to grab downside liquidity which is required, before shooting up towards new ATH's. Not just that, a possible hedge position from the 1700 level also allows us to sell towards 1570, if Gold was to break below 1660.
🔴This analysis is only valid following a break below 1758. If confirmations not met, just let Gold carry on soaring🔴
Gold short viewThe price of gold could stop its fall in the zone around the $1720 level. We could expect a potential recovery of up to around $1750.Then, we are waiting for a negative consolidation for the bearish option. After that, we should see a continuation of the price drop to $1700, then $1680 on the 61.8% Fibonacci level.
XAUUSD GOLD short ideaGOLD has taken sell side liquidity ans a swing low in 1H tf.
nowit will retrace back tothe OB and i am expecting a retrace of fibno 79% to 70.5% and from that area we can short XAUUSD by seeing signs as we can see the idea in picture. moreover theorder flow in XAUUSD has shift in sell side .
XAUUSD [ 4H ] EW updateBase on my EW count, current 5 wave(orange) we got another 5 sub wave(blue) and as i can see that 5 sub wave is not finish yet. Possibilty price can go a bit up more to finish the wave and after the daily wave finish(checkout my daily chart update) i will entry short with strong divergence.
XAUUSD [ Daily ] EW updateBase on my EW count, wave 2 (yellow) is about to be finish with sub wave abc(orange) and my target to continue short around 1776-1784 if this zone break then next zone is nearest resisdance.
As my EW count the correction wabe c( orange) we got 5 sub wave (blue). For better view and details check out my 4H chart update