after drop from 2070 gold price is making correction this is either abc zig zag correction or abcde triangle correction if it is abc zig zag correction than market is already made top at 1965 and ready to make new lower low at 1880 if it is abcde triangle correction than we will wait for the breakout of lower trend line for sell. for now we will buy expected...
our major resistance zone 2059, 2070 nearest resistance 2001, 2009 support 1943, 1950 1879, 1886 from 1680 to 2070 price is making series of higher high, higher low which makes its a strong bullish trend (buy at support and sell at resistance)
side way range of gbpusd has made a possible head and shoulders chart pattern our key resistance neckline (trend line) if that breaks than we will buy resistance - 1.32730 support - 1.30875 and 1.30004
usdcad sideway range has made this triangle chart pattern yellow horizontal resistance and yellow trend line long at trend line tp horizontal resistance short on breakout of trend line tp beginning point of chart pattern
gold price made a bull rally after it finished its triangle correction at 1780 russia crisis give it the reason to make impulsive which shock everyone the wave C has made its 1.382 projection at 1996 , while next target will be 2033 the 1.618 projection . this whole area from 1996 to 2033 is our sell zone with bulls profit taking zone if price made top at these...
price has made bear flag pattern near 50% retracement of previous bearish move chart pattern will be confirmed on breakout of 1851 entry at 0.50 and 0.618 retracement at 1862, 66 wit SL 1872 (0.786) tp1 1842
intraday price action series of higher high and higher low inside a parallel channel aka bullish trend resistance 1903 >1923
head and shoulder chart pattern support 1823 selling right shoulder with tp at head
gold price is making series of higher high and higher low on H1 time frame along yellow trend line zone resistance 1850, 1877, support 1780 at the time of writing 1753, 1721 and 1677 bearish on breakout of trend line sell on retest of trend line or side way correction support 1753, 1721, 1677 bullish as long as price is...
resistance 1868, 1877 support 1809 (50% retracement) upper and lower yellow trend line has made an expending triangle chart pattern entry - sell at upper trend line (like we did at lower trend line buying gold ) tp1 1810 (50% retracement) and tp 2 lower trend line
price is making series of higher high and higher low on 15 min time frame which tells us a strong bullish trend. we used line chart so that beginner elliott wave trader to understand better compared to candle stick chart wave W than flat correction by wave X than Wave Y making 1.618 projection of wave W at 1835 wave Y has made an ending diagonal chart pattern...
gold price on daily time frame has made a sideway range which was started from 1451 to 2075 . the complete trend is losing its movement. Don't miss this breakout opportunity and don't get trap inside the range. whole trend is shrinking between these two trend lines. the upper and lower trend line has been tested multiple times both trend line has been tested...
price has finished its final wave c of wave Y . wave c has made 1.382 projection but wave Y is still below its 100% projection. the blue abc wave has its retracement target at 1812 the 0.382 retracement. (it can make deeper correction but we expect at least 38% which opposite to current market psychology which says 1834 is now resistance. ) trend is bullish as...
price has made series of higher high and higher low inside a bullish channel upside resistance for bulls are 1877 (the previous high) and upper white trend line of the channel support 1830 and 1785 lower tren line of the channel (price has made an another yellow chart pattern inside triangle which will be complete by the time of fomc) since march...
gold price are falling for more than one year along a descending trend line. price is again test this upper yellow trend line on weekly time frame if price breakout upside on fomc than it will unleash a big bullish trend with initial target at 1877 than retest of all time high after successful rally above 1900 if price makes a trend reversal on fomc from upper...
2075 or 1560 it take entire year for gold to make this elliott wave triangle. now it is in final wave E of triangle testing upper trend line. if this is a valid triangle than gold will crash soon with its first tp at 1648 (100% projection) if this is a fake triangle than it would be confirmed by breakout of upper trend line. with first target 1960 than 2075...
leading diagonal in wave 1 and 3rd wave extension and 5th wave top at 1829 after the 5th wave correction has made retracement up low of 4th wave. higher degree expansion on breakout above 1834 trend reversal or correction from 5th wave high at 1829 trend reversal below 1800 (61% retracement) 1829 to 1800 retracement target 1830 to 1850 breakout target bullish...
wxy corrective wave invalidation level 1790 breakout confirmation above 1830 with TP 1861 support 1790, 1800 resistance 1830, 1861