Gold(
XAUUSD) declined to the Support zone($3,312-$3,290) and Support lines as I expected in the previous idea.
Gold is currently trading in the Support zone($3,312-$3,290) and near a set of support lines.
In terms of Elliott Wave theory, it seems that Gold has completed the Zigzag Correction(ABC/5-3-5) and we should wait for the next 5 impulse waves. One of the confirmation signs of the end of these corrective waves could be the break of the resistance line.
I expect Gold to trend higher in the coming hours and rise to at least $3,343 AFTER breaking the Resistance line.
Second Target: $3,364
Note: Stop Loss (SL) = $3,287
Gold Analyze (XAUUSD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a 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.
XAUUSD) declined to the Support zone($3,312-$3,290) and Support lines as I expected in the previous idea.Gold is currently trading in the Support zone($3,312-$3,290) and near a set of support lines.
In terms of Elliott Wave theory, it seems that Gold has completed the Zigzag Correction(ABC/5-3-5) and we should wait for the next 5 impulse waves. One of the confirmation signs of the end of these corrective waves could be the break of the resistance line.
I expect Gold to trend higher in the coming hours and rise to at least $3,343 AFTER breaking the Resistance line.
Second Target: $3,364
Note: Stop Loss (SL) = $3,287
Gold Analyze (XAUUSD), 1-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a 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
Trade was activated in Support zone($3,312-$3,290)Trade closed: target reached
First Target Done($3,343), if you did not close, you can risk-free your position.
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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.