After the announcement of the US Federal Funds Rate (The Federal Reserve lowered the US Federal Funds Rate by 0.5% to 5.00%.), Gold started to rise again after the bear trap from the Support zone($2,574-$2,560).
Gold is currently moving near the Potential Reversal Zone(PRZ)[$2,635-$2,605] and Resistance lines.
According to Elliott wave theory, Gold is completing microwave 5 of main wave 5, which can be completed in the Potential Reversal Zone(PRZ).
Also, Regular Divergence (RD-) between Consecutive Peaks.
I expect Gold to start falling from the Potential Reversal Zone(PRZ)[$2,635-$2,605], and the first target would be to break the Uptrend line and 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.
Gold is currently moving near the Potential Reversal Zone(PRZ)[$2,635-$2,605] and Resistance lines.
According to Elliott wave theory, Gold is completing microwave 5 of main wave 5, which can be completed in the Potential Reversal Zone(PRZ).
Also, Regular Divergence (RD-) between Consecutive Peaks.
I expect Gold to start falling from the Potential Reversal Zone(PRZ)[$2,635-$2,605], and the first target would be to break the Uptrend line and 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.
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
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.