Thesourceindonesia
XAUUSD 4-HOURS TIMEFRAME (July 11, 2024)I know this seems impossible. I have tried so many scenarios, dissected patterns to several degree combined with other methods until I finally chose this scenario for XAUUSD.
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
XAUUSD LONG SCENARIOThe precious metal has gained more than 8% since Hamas attacked Israel. While the war will continue to drive haven flows toward Gold, further price gains also hinge on the Fed’s rate cycle nearing an end. This will result in retreating US yields, reducing the opportunity cost of Gold.(Source: FX Street)
From Technical Aspect, XAUUSD is forming Wave C of (2), expect the price break 1986.85 as Bullish Confirmation.
Kindly remember, Elliott Wave is highly subjective, i will post if there's a new update on my perspective.
Trade safe, Everyone!
Cheers.