XAUUSD Gold
D1 - The price, after a strong growth, is in the consolidation zone, which can lead to either a continuation of the movement or a reversal for a correction to the impulse wave on W1.
An important factor that may influence further growth is geopolitics. Technically, gold is in the overbought stage, which makes it possible to try to trade a correction.
What can you expect?
If successful fixation to the trend line, you can consider entering from the nearest levels of 1978.50 with a small risk on the idea with a target of 1905.00
If it breaks through and fixes the level of 1969.00, it will already be possible to observe a 3-wave structure, which will confirm the corrective movement.
It is better not to take increased risks. The price may also return to the ascending channel and continue moving upward. Cancellation of the idea when 2003 - 2010 is broken.
Short
Targets 1962.00 - 1945.40 - 1930.00 - 1905.00
D1 - The price, after a strong growth, is in the consolidation zone, which can lead to either a continuation of the movement or a reversal for a correction to the impulse wave on W1.
An important factor that may influence further growth is geopolitics. Technically, gold is in the overbought stage, which makes it possible to try to trade a correction.
What can you expect?
If successful fixation to the trend line, you can consider entering from the nearest levels of 1978.50 with a small risk on the idea with a target of 1905.00
If it breaks through and fixes the level of 1969.00, it will already be possible to observe a 3-wave structure, which will confirm the corrective movement.
It is better not to take increased risks. The price may also return to the ascending channel and continue moving upward. Cancellation of the idea when 2003 - 2010 is broken.
Short
Targets 1962.00 - 1945.40 - 1930.00 - 1905.00