#Gold (XAUUSD), 1 hour:
IMHO, a rare but probable Elliott Wave pattern is unfolding on the chart, known as an Expanding-Leading-Diagonal (the 3-3-3-3-3 variety) to the downside.
⚠️ If price breaks above red wave-2 near $3438, this bearish outlook gets invalidated.
📉 Until then, downside pressure remains on the table. Once wave-3 low ($3120) is broken, this becomes my primary wave counts for Gold.
Trade wisely and watch key levels mentioned on the chart.
~EWTIC Mentor~
IMHO, a rare but probable Elliott Wave pattern is unfolding on the chart, known as an Expanding-Leading-Diagonal (the 3-3-3-3-3 variety) to the downside.
⚠️ If price breaks above red wave-2 near $3438, this bearish outlook gets invalidated.
📉 Until then, downside pressure remains on the table. Once wave-3 low ($3120) is broken, this becomes my primary wave counts for Gold.
Trade wisely and watch key levels mentioned on the chart.
~EWTIC Mentor~
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.