XAUUSD - Gold Analysis for Week Ending 30.Aug.24Dear All,
Wishing you a great week ahead. My analysis on gold indicates a potential retracement to 2452, followed by a bullish trend toward a new all-time high of 2542.
Trendanalyisis
XAUUSD 23/8 has the uptrend started?
Looking at H1 we see
- Yesterday we saw a sharp decline after the PMI news, the price reached our BUY Entry, up to now we have a 190 pips victory, congratulations to all of us.
- Now looking at the uptrend we see a 3-wave structure, on the other hand we see that yesterday's downtrend has the characteristic of sharp and fast movement, so we expect wave 3 to have formed and currently the price is correcting wave 4.
- With the target of wave 4 I measured, wave 4 has reached the price target and now we are waiting for wave 5 to complete.
- Wave 5 is confirmed when the price breaks through 2470.7 and the target is measured at the price zone of 2460 - 2457
- Because the price zone of 2470 is also the target price zone of wave 5 that we measured from the previous day's plan, we cannot rule out the possibility that the downtrend structure has been completed and it is confirmed if the price does not break through the 2470 zone. Then the price will continue the uptrend.
Our trading plan will aim to BUY when the price breaks through 2470
BUY ZONE: 24600 - 2457
SL: 2450
TP1: 2470
TP2: 2486
TP3: 2498
SELL ZONE: 2499 - 2502
SL: 2509
TP1: 2486
TP2: 2479
TP3: 2470
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2501
TP3: 2486
XAUUSD 8/21/2024 has the price peaked?
Looking at H1, we see that yesterday the Gold price peaked at 2532, which is a new ATH, then the price dropped sharply to the 2501 area, so it is very likely that the price has completed the 5-wave structure 1 2 3 4 5 and now the price is entering the 3-wave ABC correction structure.
- The sharp drop to the 2501 area means that wave A is likely to have completed and so the price is in wave B
- Our expectation is that the end zones of wave B are at 2521 - 2524. And the end target of wave C is at the price zones 2487 - 2484 and the price zone 2476 - 2473. These are our trading target price zones.
Trading Plan
SELL ZONE: 2521 - 2524
SL: 2531
TP1: 2509
TP2: 2499
TP3: 2487
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2509
TP3: 2499
BUY ZONE: 2487 - 2484
SL: 2477
TP1: 2499
TP2: 2509
TP3: 2519
BUY ZONE: 2476 - 2473
SL: 2466
TP1: 2484
TP2: 2499
TP3: 2509
Altcoin Season on the Horizon? Here's 6 Reasons to Watch CloselyAltcoin season might be around the corner, and here’s why:
BTC Dominance Facing Heavy Resistance:
The BTC Dominance chart is encountering several significant resistance lines, a signal that often precedes a shift in favor of altcoins.
Overbought Stochastic Indicator: The stochastic indicator on BTC.D is extremely overbought, suggesting a potential turning point.
Altcoins Leading MA line Retracements:
Like my previous analysis suggests, altcoins have recently been leading retracements to key moving averages (20MA, 50MA, and now the 200MA), with BTC following weeks behind. This suggests that altcoins could be leading the rebound rally and bullish continuation aswell since the BTC.D could turn to the downside.
Volume Patterns: There’s noticeable accumulation in altcoins, reflected in increased volume, which could indicate upcoming price movements.
Bearish Engulfing Candle: A bearish engulfing candle has formed on the BTC chart, which historically has a 79% success rate of indicating a trend reversal to a downward trend. This could mean further downside for BTC.dominance, potentially shifting attention and capital to altcoins.
Positive Sentiment and Development: Many altcoins have seen significant positive developments and upgrades in their ecosystems lately, leading to renewed investor confidence and potential inflows as these projects gain traction.
Personally I've sold 50% of my BTC. Currently sitting on some cash if we fall towards 44k$ area then I'll relocate my BTC money into altcoins.
Thanks for reading, good luck trading and make sure to follow me on X for weekly updates!
@PuppyNakamoto
CRYPTOCAP:BTC.D CRYPTOCAP:OTHERS
Altcoins Leading the charge while BTC plays catch-up!Is everything we’ve learned about BTC leading the way while altcoins lag behind a lie?
Could altcoins be the secret service agent, sent from the future to show us the direction BTC will take?
And did the moon landing really ever happen?
On a more serious note, I noticed an interesting pattern when comparing the altcoin market cap to BTC’s market cap. Recently, it seems like altcoins have been leading the way, particularly when we observe how they’ve retraced to the moving average (MA) lines.
On a weekly timeframe, altcoins hit the 20MA line, with BTC following suit three weeks later. Altcoins then proceeded to reach the 50MA line, and BTC followed five weeks later.
Now, altcoins have hit the 200MA line and seem to be finding support there. At the same time, the BTC Dominance chart is facing significant resistance, suggesting a potential trend shift in dominance between alts and btc soon. This could align well with the observed pattern. While the next move for altcoins is uncertain, BTC may still need to drop and hit the 200MA line to continue following this trend.
The $44k area is also a critical zone where multiple former trend lines converge, potentially providing strong support and an opportunity for BTC to gather the liquidity it needs to resume its path toward $100k. Take a look at some of my previous BTC analysis charts to see what i'm talking about here and why the 44k area might be a good short term target.
Thanks for reading, good luck trading and make sure to follow for more!
X: @PuppyNakamoto
XAUUSD 19/8/2024 price has created ATH?Last weekend we had a strong increase on Friday that broke the old peak to create a new ATH.
This increase has caused the RSI indicator to enter the overbought zone. In my experience, when the price moves quickly and sharply while looking at the RSI entering the oversold zone, this is a sign of wave 3.
- Currently we see the price falling to the 2500 zone, so we expect an ABC downtrend structure of wave 4.
- I measured the wave 4 target at the 2485 - 2483 zone, after reaching the wave 4 target, we expect a wave 5 increase to complete the 5-wave uptrend structure.
- I measured the wave 5 target at 2517 - 2520 and 2531- 2534 zones, these are the 2 target zones I expect to SELL down.
Trading Plan
BUY ZONE: 2467 - 2463
SL: 2457
TP1: 2493
TP2: 2500
TP3: 2517
BUY ZONE: 2485 - 2482
SL: 2475
TP1: 2500
TP2: 2509
TP3: 2517
SELL ZONE: 2517 2520
SL: 2527
TP1: 2506
TP2: 2500
TP3: 2484
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2500
TP3: 2484
SWING IDEA - CAMLINFINENSE:CAMLINFINE seems to be gaining good volume since the last few weeks. If this continues and if it breaks the nearest Resistance Level at 125, it could go up easily all the way till the next Support/Resistance level at 153.
So far MACD seems to be playing out well and could indicate the stock is ready to go up further from here.
We just need to hope that the market plays out well in the coming weeks in order for this setup to be fruitful.
Oil slips again and Geopolitical tensions rise In my last post about Oil, I said that "Oil has a good possibility to get back to the range of 83.50 and 84.50", but also "Oil had broken 3 LH's that were created between July 22nd, 2024 and August 1st, 2024". I also mentioned that "we can see a pullback in the ranges of 78.84 and 77.12". In my outlook at the top of the week, I said that I was on the buyer's side until price showed otherwise. Now, price is showing signs of not continuing buys but settling into seller's territory.
In this latest out look, I'm going to give you my insight on where the market can possibly go going into next week. Around early 6AM, price broke the HL from last Friday that shot Oil up all the way to the 77.89 area on this past Monday. On Tuesday, price created the "M" formation signaling that sellers were now starting to step in that sent the market selling for the rest of the week. On today Friday, August 16th, Price hit a demand area that sent price shooting past the HL that i stated early in my typing. This could potentially mean that we are now in seller's territory for a minute depending on how the markets may move going into next week. We did leave a gap above after yesterday's sell movement that can send price back that way from Monday going into Tuesday depending on market conditions. I believe if price goes back that way it can be just to create a LH, IF price doesn't make buying structure. Right now my current outlook is bias until the market finds its footing from Monday-Tuesday.
Amid Oil selling from the technical side, Oil is facing rocky streets from fear of the United States economy as investors are getting ready to brace for interest rate cuts and other things going on in different countries. From Fed Powell, to Iran retaliation, and to China's weak economy, Oil is in some unpredictable territory especially with a lot of geopolitical tensions rising. Next week news combined with technicals will give a greater outlook on Oil.
XAUUSD 16/8/2024 Has the Uptrend Started?
Yesterday after the PPI news, we saw a strong shakeout and the price came close to the 2nd BUY target zone that I had given and then bounced strongly. But I did not expect such a strong downtrend, so the price zone of 2445 - 2442 did not set a BUY order.
Today I expect a correction wave to the 2447 - 2444 zone to complete wave 2 in red and then continue the uptrend according to wave 3.
During the price increase according to wave 3, we pay attention to large supply zones such as the 2476 zone, the 2484 zone and the 2500 zone, these are the zones I choose as targets to SELL down
Trading plan
BUY ZONE: 2447 - 2444
SL: 2437
TP1: 2458
TP2: 2468
TP3: 2476
SELL ZONE: 2484 - 2487
SL: 2494
TP1: 2476
TP2: 2468
TP3: 2458
SELL ZONE: 2497 - 2500
SL: 2507
TP1: 2484
TP2: 2476
TP3: 2468
XAUUSD 15/8/2024 Has the uptrend started?
Yesterday's CPI news showed a sharp increase in price when it was announced and then a sharp decrease. This is a move to shake off the sellers so that the price can complete wave C.
- The sharp decrease in wave C is still, in my opinion, the final shakeout before the price starts to increase to complete wave 5
I predict that this week the price will likely create a new ATH followed by a further correction.
- The wave 4 target I set yesterday has been completed at the price range of 2442 to 2445. With a Buy order at this price range, we have a profit of 100 pips. You can close a part of it and raise the SL to Entry. I have a backup target at 2430 - 2427 we will look at this target if price breaks out 2439
- I see a big supply zone at 2468 - 2471 so I will set a Sell scalp target at this zone
- Our main Sell target is the end of wave 5 now I am targeting the first wave 5 target which is 2500.
Trading Plan
BUY ZONE: 2430 -2427
SL: 2420
TP1: 2439
TP2: 2458
TP3: 2476
SELL ZONE: 2468 - 2471
SL: 2478
TP1: 2458
TP2: 2452
TP3: 2444
SELL ZONE: 2497 - 2500
SL: 2597
TP1: 2484
TP2: 2476
TP3: 2458
XAUUSD 13/8/2024 Has the Downtrend Started?
Yesterday was an unusual bullish day, although we had profit with sell orders, the price increased to the 2476 area, which gave us an extended yellow wave 5, which also means that the black wave 3 has been completed
- Currently the price is in the 4th wave correction, we expect a yellow ABC correction and this is an opportunity for us to trade in the direction of wave 5.
- Trading plan
BUY ZONE: 2442 - 2439
SL: 2432
TP1: 2450
TP2: 2458
TP3: 2469
BUYZONE: 2435 - 2432
SL: 2425
TP1: 2440
TP2: 2450
TP3: 2458
SELL ZONE: 2470 - 2473
SL: 2480
TP1: 2458
TP2: 2450
TP3: 2442
SELL ZONE: 2492 - 2495
SL: 2502
TP1: 2476
TP2: 2469
TP3: 2458
XAUUSD 12/8/2024 Is the bullish wave over?Looking at H1, we see that the 5-wave bullish structure is completing.
Wave 4 has now completed and the price is continuing to complete wave 5
- Measuring the target of wave 5, we have 2 targets to pay attention to, the first is the 2435 zone and the second is the 2455 zone
- Currently, the price has reached the target zone of 2435. Looking at the momentum indicator, we see that the price is preparing to reverse at the oversold zone, so we wait for the price to recover. There will be 2 cases
- Case 1: The price does not break through the 2435 zone, so we will enter a Sell order in this area
- Case 2: The price breaks through 2435, so the next target will be the 2455 zone
Personally, I am leaning towards the 2455 price zone, which will be the price zone where I set the SELL target
Trading plan:
BUY ZONE: 2422 - 2419
SL: 2402
TP1: 2435
TP2: 2440
TP3: 2447
SELL ZONE: 2455 - 2458
SL: 2465
TP1: 2447
TP2: 2435
TP3: 2428
XAUUSD 8/8/2024 Is this decline over?
Looking at H1, we see that after yesterday's decline to the 2380 price zone, the price has recovered to the 2396 zone.
- Yesterday's decline, we wanted to see the price stop at the 2389 zone to confirm that wave 2 had ended and started wave 3, but in fact, the price has dropped deeply to 2380. Although the previous wave counting process has not been denied, the price's deep drop to 2380 has given us a complex correction model of wave 2 in black, so we still bet that the uptrend is the current main trend.
- Today, the price has recovered to the 2396 zone, suggesting to us a triangle correction model abcde. Obviously, I will not make a subjective conclusion because with a complex correction model, we have to patiently wait for the complete model to have the exact direction of the price.
- Current Trading Plan
BUY ZONE: 2374 - 2371
SL: 2364
TP1: 2381
TP2: 2400
TP3: 2412
SELL ZONE: 2415 - 2418
SL: 2425
TP1: 2406
TP2: 2495
TP3: 2389
SELL ZONE: 2425 - 2428
SL: 2435
TP1: 2418
TP2: 2406
TP3: 2495
XAUUSD 7/8/2024 Will the downtrend continue?
Looking at H1, we see that we have achieved the target of wave 2 in yesterday's plan.
Now we expect wave 3 to continue. The characteristic of wave 3 is a strong and sharp increase. Therefore, we expect a strong increase
- Wave 3 is confirmed when the price breaks through the 2418 zone, then we will have a wave 3 target at the 2467 zone
- Currently, we are in a very good buy price range, the target zone I gave in yesterday's plan
I have a backup buy plan at 2374 - 2371
Our target is the wave 3 increase, so buying up is the main thing, and the sell orders are just to catch the corrective down waves
Trading plan
BUY ZONE: 2374 - 2371
SL: 2364
TP1: 2403
TP2: 2413
TP3: 2428
SELL Scalp ZONE: 2312 - 2315
SL: 2322
TP1: 2408
TP2: 2403
TP3: 2498 SELL Scalp ZONE: 2424 - 2427 SL: 2432 TP1: 2417 TP2: 2409 TP3: 2403
XAUUSD 6/8/2024 Is this rally over?
This past week we have seen a lot of volatile news that has affected the direction of gold prices
With the unstable geopolitical situation causing large fluctuations in gold prices
- Looking at H1 we see a completed ABC corrective wave structure. Following an ABC corrective structure we expect a 5 wave bullish structure. Obviously not excluding the possibility of a complex correction wave then I will update if it happens
- Currently we expect a bearish correction to confirm wave 1 and wave 2 completed and wave 1 and 2 confirmed when price closes above 2365.6
- This current correction we expect a yellow abc wave pattern and target at 2385 price zone or 2377anh price zone
Trading plan
BUY ZONE: 2385 - 2382
SL 2363
TP1: 2393
TP2: 2404
TP3: 2418
SELL ZONE: 2421 - 2424
SL: 2447
TP1: 2408
TP2: 2396
TP3: 2385
XAUUSD 5/8/2024 correction is over?
Looking at H1 we see the ABC correction wave structure.
Looking at the ABC correction model, we see that we are likely to have an unusual correction model, when wave C does not exceed wave A.
- So now we need to observe to confirm whether the correction wave has ended
- The confirmation condition is that if this downtrend closes above the 2413 zone, then we have the price entering the uptrend wave and then the target price zone is the 2500 zone.
Currently we have a trading plan
SELL ZONE 2456 - 2459
SL 2466
TP1: 2447
TP2: 2442
TP3: 2433
BUY ZONE: 2426 - 2423
SL: 2416
TP1: 2433
TP2: 2442
TP3: 2455
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD
Overview
The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements.
Key Patterns and Levels
Descending Channel:
The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend.
The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish.
Support/Resistance Levels:
HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines.
LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions.
1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point.
Bullish Patterns:
3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance.
Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary.
Liquidity Zones:
Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level.
Daily LQZ: A zone around 2348.8 providing a major support level.
Current Market Conditions:
The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position.
Trading Strategy:
Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions.
Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment.
Conclusion:
Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
Gold Price Explosion? Key Patterns Indicating Major Moves Ahead!Technical Breakdown of XAUUSD
Overview
The chart presents the price action of Gold Spot (XAUUSD). Key technical patterns and significant support/resistance levels are highlighted to provide insights into potential price movements.
Key Patterns and Levels
Descending Channel:
The price previously moved within a descending channel, marked by lower highs (LH) and lower lows (LL), indicating a downtrend.
The breakout from the descending channel suggests a potential shift in momentum from bearish to bullish.
Support/Resistance Levels:
HTF (Higher Time Frame) Support/Resistance: A crucial level providing a foundation for significant price movements, shown with blue lines.
LTF (Lower Time Frame) Support/Resistance: A lower time frame level within the channel, highlighting short-term price actions.
1HR Double Top: A resistance level around 2458.3 where the price is currently facing a decision point.
Bullish Patterns:
3 Touch Flag: A bullish flag pattern with three touches indicating potential continuation if the price breaks above the resistance.
Daily Bull Flag: A larger time frame bull flag pattern suggests a bullish continuation if the price breaks above the upper boundary.
Liquidity Zones:
Weekly LQZ: A liquidity zone around 2484, which acts as a significant resistance level.
Daily LQZ: A zone around 2348.8 providing a major support level.
Current Market Conditions:
The price is currently testing the 1HR double top resistance. A rejection at this level could indicate a potential short position, while a clear break above could confirm a long position.
Trading Strategy:
Wait for Confirmation: Traders should wait for a clear rejection or break above the 1HR double top to determine the direction of their positions.
Monitor Key Levels: Keep an eye on the support/resistance levels and liquidity zones to gauge potential price movements and market sentiment.
Conclusion:
Gold is at a critical juncture with significant patterns indicating possible major moves ahead. Traders should closely monitor the 1HR double top and key support/resistance levels to make informed trading decisions.
XAUUSD 1/8/2024 after FOMC news?
Looking at H1, we see that after this morning's FOMC news, we see that XAU has increased to the 2458 zone
- As I analyzed in the previous plan, when the price breaks through the 2402 zone and then tests again and does not fall below this zone, the price will continue the 5-wave trend instead of the 3-wave ABC.
- Regarding the trend, after the price follows the 5-wave model, the next wave target is the 2500 price zone as analyzed before.
- Looking at the present, we see that wave 3 in the blue 5-wave structure is completing, and the price has now started blue wave 4
- Measuring the wave 4 target, we have the price zone of 2433. This will be the price zone we are waiting for as a BUY target
- The target of wave 5 will be specifically determined by me after wave 4 is formed. With the current data, I am expecting wave 5 to end at the price zone of 2500
Trading plan
BUYZONE: 2433 - 2430
SL: 2423
TP1: 2422
TP2: 2450
TP3: 2465
SELL ZONE: 2467 - 2470
SL: 2477
TP1: 2450
TP2: 2422
TP3: 2433
GOLD Breakout Imminent? Key Levels & Patterns to Watch Now!Technical Breakdown of XAUUSD
Overview
The chart depicts the price movement of Gold Spot (XAUUSD) against the US Dollar on the 1-hour timeframe, highlighting key technical patterns and support/resistance levels. The analysis aims to provide insights into potential price actions based on historical movements and current market conditions.
Key Patterns and Levels
Descending Channel:
The price has been moving within a descending channel, characterized by lower highs (LH) and lower lows (LL). The channel is defined by two parallel trendlines (in white) that indicate a downtrend.
The descending channel suggests bearish momentum as the price continues to make lower highs and lower lows.
Support/Resistance Levels:
Support/Resistance Inside Channel: A notable level within the channel where the price has repeatedly found support or resistance, marked by dashed horizontal lines.
4HR LQZ (Liquidity Zones): Two critical liquidity zones at 2447.5 and 2432.4, acting as major support and resistance levels. These zones are crucial as they represent areas where significant buying or selling activity has occurred.
Highs and Lows:
Higher High (HH): The highest point reached before the price entered the descending channel, indicating a peak in bullish momentum.
Lower High (LH): The lower high within the descending channel, showing the continuation of the bearish trend.
Daily Bull Flag:
The price is approaching the upper boundary of a daily bull flag pattern (marked in yellow), suggesting a potential bullish breakout if the price can sustain above this level.
Current Market Conditions:
Support/Resistance Retest: The price recently tested the resistance level at 2474.9 within the 4HR LQZ and pulled back slightly, indicating the presence of sellers at this level.
Potential Breakout: The price is attempting to break above the descending channel and the 4HR LQZ, which could signal a reversal of the downtrend if confirmed by sustained buying pressure.
Additional Insights:
Dollar Interaction: The inset chart shows the US Dollar index coming into a support/resistance level within its own channel, providing additional context to the gold movement.
Market Sentiment: The overall market sentiment and external factors such as economic data releases and geopolitical events can also influence the price movement of gold.
Conclusion:
The XAUUSD is currently at a critical juncture, testing key resistance levels within a descending channel. A successful breakout above the 4HR LQZ and the descending channel could signal a bullish reversal, while failure to break these levels may result in continued bearish pressure.
XAUUSD 7/30/2024 How far will the price go?
After the 5-wave downtrend structure, we are witnessing an increase from 2354 to 2402
- So we will have 2 cases either the 5-wave downtrend structure has completed wave C then we have the current increase as a 5-wave structure, case 2 is the 5-wave downtrend structure above has just completed wave 1 in the 5-wave structure of wave C so the current increase is wave 2 and will have an ABC wave structure.
- We will have an important price to confirm that is the price of 2402, both cases need the price to break out through 2402. After the price breaks out through 2402 and the price returns below 2402, then we will lean towards the current situation being just a correction wave 2 in the 5-wave structure of the purple wave C. If the price breaks out through 2418, we will lean towards the possibility that this is a 5-wave increase structure and the possibility that the price will break through the peak of 2433.
So at the 2418 area, this is the current area containing a large amount of supply, which will be a strong resistance level for the price, so when the price touches this area, there will be a reaction, and we will choose this area as the SELL target
Trading plan
SELL ZONE: 2415 -2418
SL: 2425
TP1: 2402
TP2: 2390 TP3: 2374 BUY ZONE: 2357 - 2354 SL: 2347 TP1: 2365 TP2: 2374 TP3: 2382
XAUUSD 7/29/2024 Is the uptrend over?
Looking at H1, we can see that the corrective uptrend may have ended.
- The price will continue to move in a downtrend to complete the purple wave C as shown on the chart.
During the move to the target price zone of wave C, we see that at the 2374 treble line, this is the previous breakout price zone and has not been retested, so there is still a very strong demand force in this price zone.
- We expect the price to bounce back to the 2374 zone, so we will place a BUY order in this zone.
Trading plan
BUY ZONE: 2376 - 2373
SL: 2366
TP1: 2382
TP2: 2400
TP3: 2410
SELL ZONE: 2314 - 2417
SL: 2424
TP1: 2401
TP: 2382
TP3: 2365
XAUUSD 7/26/2024 Is there a pullback?
Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C
- From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave
- The target of the rebound wave I measured at the price zone of 2402 and the price zone of 2411
- So this increase we expect is a rebound wave before the bearish wave continues to the target zone of the purple wave C
- The target of the purple wave C we measured at the zone of 2334 and the zone of 2307
Trading plan
BUY ZONE: 2366 - 2363
SL: 2356
TP1: 2382
TP2: 2394
TP3: 2402
SELL ZONE: 2310 - 2312
SL: 2320 TP1: 2400 TP2: 2390 TP3: 2382
