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Xauusdwave

XAUUSD July 8, 2024 Will the rising wave continue? Nonfarm news last weekend with lower employment data than the previous period caused gold to have a strong increase in price to 2392.2, this price increase may need to continue a correction of wave 4 before completing wave 5. final increase. Looking at H1 we see Black wave 5 has exceeded our measured target and approached the 2392 area. - So the next 5 waves are a correction. The corrective wave is a complex wave that is difficult to specifically identify, but we still take the ABC corrective wave as the standard for price observation. The specific target of this corrective wave needs to be observed at least as waves A and B complete to be accurate, but from the current data I measure the target of the corrective wave ending at the price range 2363 or 2355. These are the two price zones I expect to continue buying. We will continue to observe price behavior during the correction wave to more accurately determine the target price zones of the correction wave.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 5, 2024 waiting for a reasonable buy point Yesterday was Bank Holiday, so low market liquidity led to gold prices sideways in a narrow fluctuation range. The price targets have not changed from the previous plan, the only difference is that the price has touched the demand zone that we have identified and turned up. This suggests that wave 4 may have completed and The price will continue to increase, completing wave 5 - Today there is news about Nonfarm, if the price continues to compress within this narrow range, then after the news it is possible that the price will complete the wave 5 target and then enter a correction. If the price reaches the target of wave 5 before the news is released, then after the news is released, the price will have a downward correction. - The target price range that I want to buy is the price range 2339 to 2342. This is the expected price adjustment range after wave 5 completes.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 4, 2024 will the price still decrease?We expected a shakeout to enter the line but the price did not create this spring and completed the Flat correction pattern with wave c equal to wave a. Then the price increased sharply to the 2365 area - The completion of wave c means that wave 2 has also completed. Now the price enters wave 3 - The target of wave 3 is at least fibo 1.618% of purple wave 1, so we have the minimum expectation at the price range of 2395 - Looking at the smaller black trend, the price has gone through 4 waves 1234 and we wait for wave 5 to complete and then the price will have a correction before continuing to increase. - My suggested buying zone is the price range 2342 - 2340, which is the expected target of the completed major correction.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 3, 2024 will the price continue to increase? Looking at H1, we see that the price continues to sideways in a tradingrank. As I said, this is a correction wave. During the adjustment process, the price will move very complicatedly. - Looking at H1, we see that the price creates gradually lower peaks and especially the demand zone created by the bottom of wave 4 at the price range 2319 has been approached many times and we see that each subsequent approach the price does not rebound strongly, creating new higher peak. This is a sign that this area is likely to be breached - Our plan is to wait if the price reaches the target range at 2311 to 2304 to find a Buy order.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 2, 2024 will the price continue to increase?Looking at H1, we see that the price is having a recovery to the 2334 area. Looking at the recovery candles, we see that these are short-bodied candles, which proves that the price momentum is weak and will not make the price go far. Okay - Looking at the overall price correction, the price is in a Flat correction model. With this model, we continue to expect the price to complete wave C before continuing. We continue to wait for the price to touch the target of wave C at the price range 2311 to 2304 to enter a Buy order.
OANDA:XAUUSDLong
by DEEKOP
1
XAUUSD June 28, 2024 Where will the price increase go? Yesterday we had a price increase in the 2295 area. As I said, if in this zone the price increases beyond 2316.8, we have to count the waves again - We are still in a downtrend and this increase is just a recovery - The new wave counting process is denoted as on the graph. The price decline ended at 2295, wave 5 has completed and next we have the ABC correction process. - Wave A is a 5-wave pattern and currently we see the price is in the wave 4 target area. - Next we have the price will continue to complete wave 5 to complete wave A - So with the Buy settings we can set the appropriate TP, you can gradually increase the SL to avoid losing profits. - We have 2 price zones to complete the wave A target: 2332.9 and 2341.4, these are two potential price zones for the current price increase.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD on June 27, 2024, the final decline? The price has approached the 2295 zone and is currently recovering very weakly in this zone. - There is a high possibility that the price will continue to break this zone and drop to the 2287 zone. + At area 2287, if the price breaks out below this area, the price will continue to complete the target of wave 5 at price area 2256 or 2210. + If the price continues to rebound and surpass the 2315 price range, then we can say that the correction has not ended and the current price is still in a complex correction, then we have to count the waves again ( I will update if this situation happens) - At this price range, we should only observe or play Scalping because we have two price resistance zones that are quite close to each other, the 2295 zone and the 2287 zone.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD June 26, 2024 important price zones? Yesterday's price broke the 2334 zone, confirming the abc wave correction process, which also means that wave 1 and orange wave 2 have completed. After that, the price continues to decrease to continue completing wave 3. We have the characteristics of wave 3 as moving quickly and sharply, - So we wait for the candle to close below 2316.8 to confirm the correction to complete. - The second important price zone to confirm that we are in wave 3 is the price zone 2309 that needs to be broken down and the sufficient condition is that the price breaks below 2287. - After the price has broken below the 2287 area, the target price area we have measured will be considered the 2256 price area and then the 2210 price area. - I have listed important price zones so you can have the best trading management plan. - Trading plan with sold transactions from the 2334 - 2337 range, you can watch these price zones to lock in partial profits or you can DCA when the price breaks out through these price zones. - When the price breaks out through these price zones, you can find an entry point for a Sell order
OANDA:XAUUSDShort
by DEEKOP
3
XAUUSD June 25, 2024 Is the rally over? Yesterday the price touched the wave 4 target zone that we predict is the 2329 zone. - Currently, the price is reacting at the 2334 area. Looking at the current H1 candlestick model, we see withdrawal candles appearing in this area, proving that there is very strong selling force blocking the price increase in this area. - The ending target of this correction is around the 2334 zone. It is important that we wait for a reversal confirmation signal in this zone to be able to set up a Sell trade. - Note that currently on the H1 frame, I am seeing a momentum signal entering the oversold area. This indicates a high possibility that a small price increase will occur. This is a very good opportunity to confirm a reversal. We need to pay attention. close + If this increase does not break through 2334.2, then we will have a reversal signal at the 2334.2 price range. So the entry point is when the price breaks to the previous bottom. + If the price breaks through 2334.2, then we will continue to observe that the price may approach the 2340 to 2342 range. Then we wait for a reversal confirmation to find a point to enter a sell order. The market is always fluctuating and nothing is certain, so Deekop wants his analysis to help you strengthen your trading strategy. I will update more when there are fluctuations in the market. Thank you everyone for following
OANDA:XAUUSDShort
by DEEKOP
XAUUSD June 24, 2024 Will the downward wave continue?Prices are recovering after a sharp drop on Friday. - According to the Elliot wave principle, a sharp wave moving quickly is wave 3 in a series of 5 waves. - So it is possible that the current increase is a correction in wave 4, so we will continue to have wave 5 continuing to decrease after wave 4 correction is completed. - The nearest resistance zone is the 2330 zone. We will monitor this zone and it may be the target of wave 4. - The target zone for wave 5 from the current forecasts is estimated at 2309. After reaching this zone, we will have the completion of the orange wave 1 in the larger wave. - Then the price recovered to complete the 2 orange correction wave. We predict wave 2 target at 2343.59 Trading plan - The main trend is downtrend, so for long-term transactions we prioritize sell orders. The best price zone to enter an order is the price zone that completes the orange wave 2, which is the 2343.59 zone. When the price reaches this zone, look for a confirmation reversal signal to enter the order. - With SCalping trades, we wait for the price to react at the support and resistance zones to enter orders. Note that Scalping trading is a short wave trade, so the TP is usually from 30 pips to 100 pips, so you should focus on managing the trade. Translation to limit risks
OANDA:XAUUSDShort
by DEEKOP
XAUUSD trading plan for the week of June 4, 2024 So after Friday's sharp drop, we had a profit of 500 pips. This decrease also confirmed the completion of orange wave C in the ABC correction. After the ABC correction is completed, we bet that the previous downtrend wave will continue. - With Friday's decline, we see that the momentum has entered the oversold zone, showing that sellers are showing signs of exhaustion. So in the immediate future there will need to be a short-term correction for sellers to regain their strength. - We measure that this decrease is likely to end at 2 price zones: 2309 or 2395. - With the assumption that the price range ends at 2309, we measure the target of this temporary upward adjustment ending at 2340. - Then the price continues to decrease to complete the big wave 5 at the target price areas that we measured before, which are 2256 and 2210. - When does our wave counting process fail? That's when this rally price broke through the 2374 area, then confirmed that we have to do the wave count again, then I will update later if it happens. - On the H4 chart, I have drawn important resistance and support zones, which we can rely on to plan Scalping when the price approaches these zones. - I will update specific price developments every day.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD June 21, 2024 Is the rising wave over?Our wave C target has been achieved, looking at the price we see - Yesterday after the news of unemployment benefits was announced, the price increased sharply to our target area of ​​2364 and is currently correcting. So the price increased sharply and quickly, which is the characteristic of wave 3, then the price decreased and adjusted until now, so it is likely that the price is in wave 4. - So we may have wave 5 to end this wave C and from current price data we can measure the target area for this wave C from 2364 to 2374. We will consider the price range from 2364 to 2374, this is a very good price range to sell down. After the price reaches the target of wave C as above, if the price breaks the 2387.5 zone, then our trading plan must change. In case the price drops, we have the goal of completing the big wave 5 as shown on the chart at area 2256 and area 2210.
OANDA:XAUUSDShort
by DEEKOP
1
XAUUSD on June 20, 2024 after bank holidayToday will be announced the number of applications for unemployment benefits. This index will tell us how the current economic situation is affected by the Fed's policy on interest rates. If these indexes decrease, it will tell us that the Fed's recent policies have not had a large impact on the economic situation, which will create conditions for the Fed to maintain its hawkish policy and then the USD will increase. and XAU will decrease If this policy increases compared to the previous period, this signals that the Fed's policies are negatively impacting the economy, affecting all classes of people, creating pressure for the Fed to relax interest rates in the future. in the near future and this will cause the USD to decrease and XAU to increase. Price broke out of the triangle wedge this morning with a strong candle. So we are leaning towards the ABC correction model - So the price target of wave C as last time we measured at 2 price zones 2350 and 2365 price zone. - After the price reaches this target, the price will continue to trend down to complete the large wave C in the D1 time frame. - Our current trading plan is to wait until the wave C target at 2350 or 2364 to find a selling point or we can go to smaller time frames for scalping trading.
OANDA:XAUUSDShort
by DEEKOP
1