Xauusdwave
XAUUSD 9/9/2024 Is the Downtrend Over?
Looking at H1 we see a 5-wave structure has ended and then the price has decreased to the 2491 area.
- Looking at the current price structure, we expect the price to create a new bullish structure larger than the current structure, which I denote as the orange structure
- So with the 5-wave orange structure, we expect wave 1 to be completed
- And now wave 2 I measure the target at the price zone of 2481 - 2479, this will be the target for us to BUY
- I still do not rule out that the adjustment process is not yet complete because the adjustment process is only confirmed when the price surpasses 2532, so I still calculate the possibility that the price is still adjusting
- At that time, the target price zone ends the adjustment at the price zone of 2435 - 2432, this will be our BUY target when the price breaks through 2471
Regarding the SELL zone, I see that there is a very large supply at the price zone of 2511 - 2514 This zone is determined by the Volume profile tool when the price touches this zone, there must be a supply absorption phase before it can continue to increase, so this will be our SELL target
Trading plan
BUY ZONE: 2477 - 2474
SL: 2467
TP1: 2487
TP2: 2497
TP3: 2510
BUY ZONE: 2435 - 2432
SL: 2425
TP1: 2453
TP2: 2471
TP3: 2410
SELL ZONE: 2511 - 2514
SL: 2521
TP1: 2499
TP2: 2487
TP3: 2477
XAUUSD 5/9/2024 Will the uptrend continue?
Looking at H1, we will see a complex correction in which the correction waves are intertwined, so I will move to the H4 time frame so that you can easily see the wave structure
- Looking at H4, we have a Flat ABC correction structure, the above process looking at the present, we see that the wave has completed wave B and the current process is completing wave C.
- The key to the problem is that we determine the end point of wave C to find a trading point.
- Case 1: the price reaches the 2472 area and then increases sharply until now, we expect a recovery wave to the 2472 - 2469 area, then this price area will be the price area of wave 2 in the new 5-wave increase structure and this is also our BUY target.
- Case 2: the price continues to break 2472 to complete wave C, then the first target I aim for is the length of wave C equal to the length of wave A, then we have the first target at the 2467 - 2464 area and this is also our second BUY target area.
- In the area above, I see the price area of 2515 - 2518 according to Volumeprofile, this area is the area where a large amount of supply was concentrated before, so when the price approaches this area, it needs to absorb all of this supply area before increasing further, so this price area continues to be our SELL target area.
Trading Plan
SELL ZONE: 2515 - 2518
SL: 2525
TP1: 2509
TP2: 2501
TP3: 2482
BUY ZONE: 2482 - 2479
SL: 2472
TP1: 2499
TP2: 2509
TP3: 2515
BUY ZONE: 2464 - 2467
SL: 2454
TP1: 2472
TP2: 2482
TP3: 2500
XAUUSD 4/9/2024 complex correction has ended?
Looking at H1, the complex correction process will create very difficult conditions for determining the specific structure of the wave. In such a situation, we will rely on the Fibonacci measure to determine the target price zones for the end of the entire correction process based on the previous up wave.
- With such an approach, I will determine the target price levels for this correction downtrend.
- Looking at the chart, we have a temporary 5-wave structure formed. We will rely on this combined with Fibonacci to set up trading zones
- Case 1 if wave 5 has ended, then we expect the price zone 2482 - 2479 to BUY
Case 2 if the price breaks below 2473, then the price zone ending wave 5 will be the price zone 2464 - 2467
- Above the strong supply zone 2510 - 2507 has not been broken yet, so this is still our target to SELL
- Next is the zone 2515 - 2518, this is the strong supply zone above that we choose to place a SELL order/
Trading plan
BUY ZONE: 2482 - 2479
SL: 2472
TP1: 2492
TP2: 2582
TP3: 2499
BUY ZONE: 2464 - 2467 SL: 2454 TP1: 2478 TP2: 2492 TP3: 2499 SELL ZONE: 2510 - 2507 SL: 2520 TP1: 2510 TP2: 2491 TP3: 2482 SELL ZONE: 2515 - 2518 SL: 2525 TP1: 2510 TP2: 2491 TP 3: 2482
XAUUSD 3/9/2024 Downtrend is over?
Looking at H1 we see that the price has reached the target of wave 4 that we expected and then decreased near TP3. Once again I would like to congratulate all of us on continuing to have a big win near Full TP3.
- So now the price is completing the down wave 5 to then continue to increase
- Looking at the overall correction, we can easily identify that this is a complex correction with many intertwined correction structures.
- In a complex correction trend, it is difficult for us to determine when the new trend starts. But with real trading, we only care about the setups that qualify for our trading, I will not try to predict each wave accurately
- Currently, I expect the wave 5 target to end at the price zone of 2487 - 2484 and this is also our BUY target
- Above, I see 2 large supply concentration zones, which are the 2507 - 2510 zone, this zone is the target zone last time the price just approached this zone and was pushed down very quickly, and the 2525 - 2528 zone, looking at the chart, we see that the price was pushed down very deeply after approaching this zone last Friday. and these 2 zones are also our SELL target zones
BUY ZONE: 2487 - 2484
SL: 2477
TP1: 2499
TP2: 2507
TP3: 2518
BUY ZONE: 2471 - 2469
SL: 2461
TP1: 2485
TP2: 2499
TP3: 2510
SELL ZONE: 2507 - 2510
Sl: 2517
TP1: 2500
TP2: 2487
TP3: 2470
SELL ZONE: 2525 - 2528
SL: 2535
TP: 2518
TP2: 2510
TP3: 2500
XAUUSD 9/2/2024 price continues to decrease?
Looking at H1, we see a sharp decline on Friday last week to the 2494 area, signaling that this is wave 3 in the red 5-wave trend above.
- According to the 5-wave structure, the price is currently completing wave 4 and then the price will continue to move in a downward trend to complete wave 5. The target is measured for wave 4 at the price range of 3507 - 2510, this will be our SELL target price range.
- After reaching the target of wave 4, the price continues to move to complete the target of wave 5. Then we measure the target of wave 5 at the range of 2487 - 2484, this is our BUY target price range.
Trading Plan
SELL ZONE: 2507 - 2510
SL: 2517
TP1: 2499
TP2: 2493
TP3: 2487
BUY ZONE: 2487 -2484
SL: 2477
TP1: 2494
TP2: 2499
TP3: 2509
XAUUSD 8/29/2024 Is the uptrend over?
Yesterday as predicted, wave C was completed with very strong selling pressure, we did not reach the target of the first BUY zone, but at the second BUY zone, we had a big win of 210 pips, congratulations to all of us.
Currently, the uptrend is still dominant. Looking at the current trend, we expect a 5-wave structure as shown on the chart. Besides, there is still the possibility of an ABC correction structure.
- We have the price zone 2510.7 as a confirmation point, if the price closes above 2510.7, then we are in a 5-wave uptrend. If the price closes below 2510.7, then this increase is just an ABC correction and then the price continues to decrease when the structure is completed.
- My current view is leaning towards a 5-wave bullish structure because I am expecting wave C to reach its target at 2493.7 and then a 5-wave structure will follow, then we have wave 5 target at 2536 - 2539, this is the first target and this is also the target area for us to SELL
- If the current structure is an ABC correction structure, then we have wave C target at 2487 - 2484, this will be our BUY target
- In addition, we have a large demand concentration area at 2509 - 2506, so this is also a target area for us to BUY SCALP
Trading plan
BUY SCALP ZONE: 2509 - 2506
SL: 2499
TP1: 2518
TP2: 2524
TP3: 2531 BUY ZONE: 2487 - 2484 SL: 2477 TP1: 2499 TP2: 2506 TP3: 2531 SELL ZONE: 2536 - 2539 SL: 2546 TP1: 2531 TP2: 2524 TP3: 2509
XAUUSD 8/28/2024 Has the price started a new trend?
Looking at H1, we see a completed 5-wave structure followed by a correction structure. Currently, we have 2 possibilities that can happen with the current price structure
Case 1, we have a Flat correction structure with peak B equal to peak 5 as shown on the chart. Then we need to wait for the price to complete wave C to be able to trade. In this case, it is confirmed when the price breaks through the 2503.9 zone
- Case 2 is that the price has completed the ABC correction wave at the 2503.9 price zone and the price is currently in a 5-wave uptrend structure. If so, we have the current correction wave as correction wave 2 in a new uptrend structure, then we expect the price to break through the 2526.6 zone to create a new higher peak. And this case is confirmed when the price breaks through 2526.6.
Combining the possibilities we have the following trading targets. Pay special attention because the current price structure is still unclear, requiring us to manage the transaction closely.
SELL ZONE: 2536 - 2539
SL: 2546
TP1: 2527
TP2: 2519
TP3: 2523
BUY ZONE: 2512 - 2509
SL: 2502
TP1: 2519
TP2: 2531
TP3: 2536
BUY ZONE: 2498 - 2495
SL: 2488
TP1: 2509
Tp2: 2519
TP3: 2531
XAUUSD 26/8/2024 Will the uptrend continue?
Last week we saw a special increase on Friday.
- This increase confirmed the completion of the ABC correction wave and the price continued to increase.
- Looking at the current uptrend, we see a structure of short candles with weak momentum. So this could be a big wave 1 in the uptrend structure. Looking at the bullish wave structure, we see that there are 5 black waves
- Currently, I am leaning towards the black ABC correction structure
- Looking at the chart, we see that the black wave A has been completed and the price is currently completing the black wave B
- The target for completing the black wave C is I predict at the price range of 2500 - 2497 or the price range of 2489 - 2486, this will be my BUY target
- Above, we see that there is still a very strong supply zone at the price range of 2531 - 2534, this is the old peak, so if the price wants to surpass the old peak, it needs to absorb all of this supply. So I will set the SELL target down here
Trading plan:
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2509
TP3: 2500
BUY ZONE: 2500 - 2407
SL: 2400
TP1: 2509
TP2: 2519
TP3: 2530
BUY ZONE: 2489 - 2486
SL: 2479
TP1: 2499
TP2: 2509
Tp3: 2530
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
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
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/H4 Model 2 peaks appear, gold's correction rhythmAnalysis of the gold trend in the Asia-Europe session on 14/08/2024:
After forming a double bottom pattern at 2380, gold experienced a nearly 100-point increase. Yesterday, the PPI did not help gold break through the resistance zone of 2473-2475. If gold breaks the area of 2458-2460, it will officially confirm the double top pattern.
However, today's CPI is still a mystery. Is this a correction phase or just a fake breakout? The long-term trend remains a BUY, but short-term SELL trades can be made at the peak area.
Key price levels to watch: 2473-2475, 2444-2447, and 2430-2434.
Recommended orders:
Plan 1: SELL XAUUSD zone 2473 - 2475
SL 2479
TP 2468 - 2458 - 2445.
Plan 2: BUY XAUUSD zone 2444-2447
SL 2441
TP 2455 - 2468 - 2485 - 2509.
Plan 3: BUY XAUUSD zone 2430-2433
SL 2427
TP 2444 - 2458 - 2468 - 2509.