Gold continued to rise, as we expect 38 or 0.5 Fibonacci to make a correction in the five-wave daily time in this Price Action area, so we can enter a short sell deal in that area if we see a strong uptrend in the h4 time frame. Buy a deal, or if it is not supported, it will continue to fall. The news of the Russia-Ukraine war will be a signal for gold to continue...
Due to the rise in price to the area of 1825.00 and the failure of this resistance area and pullback. Gold will probably continue to rise. Tp = 1850.00 Tp = 1875.00
Gold experienced a good price drop that will probably continue in the form of (ABC) or (123) and now in the correction move B we expect to complete the pattern 5_3_5, ie after a short climb we will wait for a strong bearish candle in the H4 time frame. Before opening a trade, check the signs of confirmation of market movement in the power of candle, oscillator,...
Gold is at the beginning of a minor downtrend. We open a short sale deal. If the downtrend continues, we risk it for free.
Wait for the five Elliott waves to complete, and start a bullish wave with a strong green candle
waiting for the wave y trend line to break at time h4, and to trade at time h1 or lower