Expecting Gold bulls to enter the market and confirm our bullish bias. Market currently pushing to test weekly demand zone also wave (IV) of Elliott Wave structure which 382/50% Fib Zone.
Xauusd is in a complex correction phase of Elliott Waves (WXY) and we are currently in the last wave (Y), using equal legs we can determine potential take profit levels which coincide with weekly and daily demand zones. We will be monitoring price action on lower timeframes for entry and stop levels to get high RR
Expecting a weak dollar for the next couple of days. Will be looking to execute short orders if our entry levels are validated. Looking to take profits at demand zones at lower prices before the rally continues
