I feel Gold didn't break the buy sentiments but actually it is coming down to retest the previously broken structure. It will be the best time catch a buy trade again.
$1774 and $1778
Take Profit Between:
$1804 and $1808
At your discretion
Hi Traders, here is the full Update Analysis / Breakdown for XAUUSD .
Keep this pair on your watch-list.
1.Wait for confirmation(Wait For Price Action Confirmation )
2.Use Risk Management (Risk 1% of your capital)
3.Do your Own analysis!
4.Follow for more Analysis like this!
5.Always Be reactive & Not Predictive !
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Here is the breakdown of the fifth wave from the lower timeframe. Wave iv should find support around 50% Fib that lined up with a weekly demand zone.
This analysis gives us Elliot wave short-term sell setup and longterm buy setup. DM to see how I will take advantage of this setup.
Gold is in Wave 5 of the major advance as I've already discussed in the higher timeframe post I published 3 days ago.
Kindly find the related idea links to read full articles.
It's setting up for wave iii of (iii) of 3, and this usually the wave that drives the price so rapidly according to Elliot Wave Principle.
So keep eyes on it! Don't lose guard!