Gold entered the Potential Reversal Zone(PRZ)[$2,635-$2,605], as I expected in the previous post.
According to the Elliott wave theory, Gold has succeeded in completing the main wave 5. One sign of this completion is the breaking of the Uptrend line.
Also, Regular Divergence (RD-) between Consecutive Peaks.
It should be noted that the Flash Manufacturing/Services PMI will be published today, and we expect Gold to react when it is published.
I expect Gold to drop at least $2,590 in the next hours, and if the Support line breaks, we should wait for Gold to drop to the Support zone($2,574-$2,560).
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
According to the Elliott wave theory, Gold has succeeded in completing the main wave 5. One sign of this completion is the breaking of the Uptrend line.
Also, Regular Divergence (RD-) between Consecutive Peaks.
It should be noted that the Flash Manufacturing/Services PMI will be published today, and we expect Gold to react when it is published.
I expect Gold to drop at least $2,590 in the next hours, and if the Support line breaks, we should wait for Gold to drop to the Support zone($2,574-$2,560).
Gold Analyze ( XAUUSD ), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
It is possible to form a Head and Shoulders pattern in gold.
If gold breaks the Important Resistance line, we should wait for gold to rise again.
My trade has been activated.
Trade closed: stop reached
The developments in the Middle East and the tension between Lebanon and Israel increased the GOLD and changed the scenario.
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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.