Xauusdwave
GOLDobviously the first yellow count was not all the correction and latest run up very much looked as a part of a bigger structure.
i assume it will make running flat which shows that the continuation move wont be so big, since on daily/weekly we r at resistance.
but for last part of the structure as per chart im expecting another abc or maybe it will be 3-3-5 structure and we will see some deeper 5 wave c part...
GOLD THIS WEEK 09/17/2018Gold closed bearish last week and was in the weekly pivot area for this week. If the price continues the trianggle pattern then the price will move to the first weekly resistance area, invalid if the price breaks low ($ 1187 / oz). Key support is $ 1187 / oz If it breaks low then it will move to the first and second weekly support area.
Weekly Pivot:
R4 1273.12
R3 1248.06
R2 1223.00
R1 1208.30
Pivot 1197.94
S1 1183.24
S2 1172.87
S3 1147.81
S4 1122.75
Option:
-The price movement in a week can be used as a reference to take positions in daily opportunities
XAU/USD - ShortXAU/USD had broken over the 50 ema but wasn't able to hold on top of it.
It has now broken back under and we can expect the move to continue further lower.
You can put a pending order to short at 1189 just as it breaks its current support area.
The first TP would be at 1180
Second TP: 1175
Third TP: 1170
*If you agree with this analysis, please make sure to like! Your support is very appreciated.
Trade safe :)
XAUUSD Corrective Structure With Bullish Break AnticipatedXAUUSD is forming a larger corrective structure than what I had first expected. Bear in mind that this is the H1 time frame though so actually still a small move inside this corrective structure. This structure could complete with either 3 or 5 waves. Once we see the break of this structure to the upside and the larger structure on the daily time frame, this will indicate a strong move up.
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Cheers
Linton
Gold Possible bigger picture scenarioGold tested its 2017 and earlier this year highs in April and couldn't broke up despite several attempts, so far the price action is testing multi weeks uptrend line, possible scenario i am expecting is to the upside but if it tests the white trendline and forms linear compression, most likely we will see another low this year. So anyway, lets see i am building positions for longs for target $1,285 area thereafter i will re asses.
Happy Trading & have a great weekend.
XAU/USD Gold weekly overviewXAU/USD Gold weekly overview
On the chart we see that currency rate 9 days ago bounced up before key level $1236. That was a signal that big players want to get more fuel for continue of the trend. Also, as you see on the chart there are bearish moving from 4 -month range $1300 — $1360.
After such accumulation of volume, the price can't turn it direction in 1 moment. I think the price will continue moving down to key 13 months low $1204. Only near $1200 — $1204 we will be able to look for short.