Gold Analysis==>>Correction

Gold has managed to break the Heavy Resistance zone($2,484-$2,431)and the Resistance line and is currently moving in an Ascending channel.

According to Elliott's wave theory, Gold seems to be completing the main wave 5.

Also, we can see Regular Divergence(RD-) between Consecutive Peaks.

I expect Gold to drop from the Potential Reversal Zone(PRZ) to at least the lower line of the Ascending channel.

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.

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Trade active

We have to wait for GOLD to break the uptrend line.

Trade closed: target reached

First Target Done

Trade closed: target reached

Second Target Done: If Gold breaks the lower line of the ascending channel, we can expect more dumps.

pejman_zwin

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pejman_zwin

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