Gold (XAU/USD) is still making triangle according to Elliott Wave analysis. we are likely to see a push below 1778.00 before a short-term recovery wave of B wave. 5th wave can also be a failed 5th wave (Transaction).
After the formation of an (a)(b)(c) wave in gold, it seems that the "(C)" wave, which hits Fibonacci retracement 0.618, is over, and then we will have the daily C-correction wave, which can see the range of 1766.
How To Trade OANDA:XAUUSD For The Next Week Wait for confirmation and breakout of the channel
XAUUSD 4h Gold (XAUUSD, $1,803) finally managed to overcome previously broken support , which was acting as a resistance. The next level of resistance is downward sloping dashed line will open way to $1,835 - 1,850 if broken upside!
Xauusd forming bearish pennant on 4H wait for a breakout on 1H timeframe for our next trading opportunity. A break and close below the 1755 area would open the door for the 1724-1700 area and 1680 in extension. 👇 Follow for more daily forex content and education 💪 Good luck to you! Don't forget to like and share, it really helps. Stay tuned. This is just an...
Gold is currently in a descending channel. Keep an eye on the 1855 Area for your next trading Opportunity. 👇 Follow for more daily forex content and education 💪 Good luck to you! Don't forget to like and share, it really helps. Stay tuned. This is just an idea, not financial advice.
Please view the chart for a full analysis of this pair.
Finally I found the subwave after correcting the counting on 4 hour time frame. Here it is... (it is still in Corrective Wave, not and Impulse) FX:XAUUSD
Gold has been in the bearish trend, but got a reversal on all the moving averages on the upside. But this week being the NFP week, we will wait for a further fall. Mark the points and trend lines given in the chart for your next entries. The trades should not last for more than 2hours if you are an intraday trader.
Big rejection off support, this looks to be going up before coming down