2209 XAUUSD back to rising trend after Fed Rate
Hello traders,
GOLD seems finishing its ABC wave correction from Wed's Fed rate decision.
This ABC wave made a perfect position C on Fibo 1.414 of Wave A.
Now gold is rising. Actually, it begins to rise since last NY session.
Back to the big picture, remember that we are still expecting a rising trend for gold on weekly chart if gold could break through the trend line?
Now consider this plan is ongoing, gold is starting from RED C and this new leg is another BIG wave BC which is targeting TP1 AND TP2 on this chart.
GOOD LUCK ON THIS BUYING PLAN.
LESS IS MORE!
GOLD seems finishing its ABC wave correction from Wed's Fed rate decision.
This ABC wave made a perfect position C on Fibo 1.414 of Wave A.
Now gold is rising. Actually, it begins to rise since last NY session.
Back to the big picture, remember that we are still expecting a rising trend for gold on weekly chart if gold could break through the trend line?
Now consider this plan is ongoing, gold is starting from RED C and this new leg is another BIG wave BC which is targeting TP1 AND TP2 on this chart.
GOOD LUCK ON THIS BUYING PLAN.
LESS IS MORE!
Now it seems that it is hard for gold to break through the weekly trend line this week.
More likely, it probably keeps sideways price action on weekly chart which could break the trend line slowly but not for sure to make a new high very soon.