XAUUSD did not folow the trend to make its 5th wave down because the red support zone has been a strong reason for buyers to open a new trade and sellers to close for profit. This time, buyers win. Now just follow the blue line and waves for gold. The highest position for buyers now to consider is where it start to drop. Plan to buy next week to follow the winning group which is the plan2. LESS IS MORE!
a lot of traps lately for gold. For buyers, best wait for it to either close above 1300 or below 1260 to long.
1260 - 1300 is trap zone imo..
UnknownUnicorn4686826
⋅
@howard1127, its dropping the next 3 -5months will be good to short gold. from the chart it has broken support which is 1278 these bounces are only last gasps by longs
1260 - 1300 is trap zone imo..