With the recent Ending Diagonals on OANDA:XAUUSD as shown in the chart below, Gold is currently starting the Correction of Wave A/1 of downward movement which started in the first week of May. On Various brokers, the price went beyond making new ATH almost a month ago. But in my opinion, that was just SL hunting done by whales to squeeze out the...
gold have support in 1862 levels over all the trend is bullish but we need to wait for the breakout if it happen to down side i will expect 1862 it the breakout happen in upward my expectation is 1978 up to 2070 levels
Gold rise last week sharply it will continue to growth above the current level it will try to approach the 1978 resistance. if you do wave count in weekly according to Elliot wave principle its complete the wave 2 it will continue to form the wave 3 and longest wave.
Hey tradomaniacs,
Gold currently at strong DEMAND-Zone (SUPPORT) and could cause profit-saves for bears and so a higher bullish confluence to retest the previous trendline.
Might be a chance to go long today!
As always make your own analysis and wait for a confirmation!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good...
as per previous charts and expectations we r above daily high and made a hew high, so from this point it can drop deep down, or it will be just another correction for medium term up before the big drop .
now on the chart we can see that it retraced barely above 0.236 and im expecting to see at least 0.382 and if that will be all the correction or it will be part A...
from the chart in the comments can be seen that weekly pattern is completed! now we are ending the last part of it.
now in this chart taking in consideration last bigger correction from february till may cant be alone, and this instead of forming h&s formation looks like its deepening the correction and it might looks like this... that big blue rectangle is...
In the previous post I discussed how both the main and the alternate counts were referring to the same fact that a rally in Gold was possible.
Here I have discussed the same count on hourly time frame and it seems that we are in the 3rd or the 3rd of the 3rd as per this count.
I have given the hypothetical wave progression along with the Invalidation mark which...
Gold Formed a Complex structure
Flat X Flat X Flat
Where ::: Each Flat = abc Each X = abc
Sure it will end up near term at the maximum on 1170
sure Next C or 3 is going Short till 1105
