mamnunamalik

mamnunamalik Updated 

Dear Traders, Those who are trading according to 1 hour chart, gold price has reached the maximum projection of Zigzag correction 261.80% Opening short position in these level may be suicidal according to wave analysis.

mamnunamalik

Gold price is in zigzag correction and this analysis is on weekly chart. More upside move ahead after the completion of this correction. So looks for short opportunity in smaller time frame and follow this route map.

mamnunamalik Updated 

According to my previous wave analysis, I am still not convinced that Gold bull run is over. My anticipation of this precious metal is still high. My long position is opened.

mamnunamalik

Dear Traders, Gold has finally completed its major 12345 waves on 31st October, 2024. Now it is on correction phase ABC wave and this is going to be a zigzag correction. Price is forming wave A and its minimum destination is 2415.

mamnunamalik

Dear Traders, As we focus only in Elliot Wave analysis, we found out that the gold price is in still its major 3rd wave. We will consider this 3rd wave is completed only when the (2) and (4) matured trend line will be broken. As you can see, the price has already showed a rejection from this trend line. (Daily Chart) Meanwhile, in minor scenario which is in 4...

mamnunamalik Updated 

Dear Traders, Gold price is in correction and forming wave (iv). After that it will lead an impulse wave (v) which will be our priority to open position.

mamnunamalik

As we see the price has completed its recent cycle on 11 July, 2024. It is now in a major correction where the wave 'A' is already formed. Now the price is forming the wave 'B' and its minimum destination is 61.80% After completing the wave 'B', price will lead the wave 'C' which will be a downward impulse which can move the price toward 175 zone. The more...

mamnunamalik

Bitcoin the name which shows us the dream to become a billionaire. Currently price has completed its double correction and facing strong resistance at 0X trend line. If price fails to break this trend line then the 3rd and final correction will happen which may lead this coin price to 45000-48000 zone. Trader should focus on the trend line. If it fails to...

mamnunamalik

Completing its bullish cycle on 14 July 2008, this pair still fails to make a reversal trend. Its corrective phase is going on since then. Currently it is forming the wave 'C' which will lead a downward impulse. Selling opportunity after a pullback should be the focus point for the traders.

mamnunamalik

As we see the price has completed its recent cycle on 3 July, 2024. It is now in a major correction where the wave 'A' is already formed. Now the price is forming the wave 'B' and its minimum destination is 61.80% After completing the wave 'B', price will lead the wave 'C' which will be a downward impulse which can move the price toward 130 zone. The more...

mamnunamalik

US Dollar index is in at Zig-Zag correction (ABC) after completing a full cycle on 28 September, 2022. It has completed the Wave 'A' on 14 July, 2023. Now index is forming the Wave 'B' After forming the Wave B, the index will lead the Wave C which will be a downward impulse. P.S. If price breaks the 61.80% level, then we will consider this wave...

mamnunamalik Updated 

Dear Traders, The H4 chart reveals that Gold finished wave iv of (iii) and has now resumed its movement upward within wave v of (iii) of ((iii)). Based on Elliott wave projections: Wave (iii) has the potential to extend to 2767 before a corrective pullback begins within wave (iv) of ((iii)). Traders should stay focused on the buy side, using pullbacks as entry...

mamnunamalik

If this is the end of 4th wave then 5th wave minimum target is 2707 .....

mamnunamalik

These are the waves currently gold is having. Major Degree: 3rd Wave Intermediate Degree: 3rd Wave Minor: 5th wave of intermediate 3rd Wave We are focusing on Minor wave which I will breakdown in 4 hours chart.

mamnunamalik

We will see another all time high once this correction of 4th wave is over.

mamnunamalik

Traders now bet Fed will stick to 25 bps cut in September, with bigger cut in November.

mamnunamalik

Price will make another all time high. Correction was completed and market is reacting for rate cut in September. Trend is bullish as long as price is not braking the trend line.

mamnunamalik

Correction is going on. Lets wait to complete and then buy for new ATH.