The golden five-wave trend will be established, be wary of reach

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On Monday, as the one-year U.S. inflation forecast exceeded expectations, the U.S. dollar index first fell and then rose, barely holding the 105 mark during the session.



Spot gold fell by more than 1% during the day, and fell below the three major levels of 2360, 2350, and 2340, and finally stabilized at a low near 2335.



From the 4-hour chart, we can see that in the trend from 2431 to 2277, 2335 is exactly at the Fibonacci 382 position.



So there must be support here in 2335.



In addition, from the wave shape point of view, there was one wave from 2277 to 2235, three waves from 2305 to 2378, and a four-wave correction from 2378 to 2335.



The top of the previous wave was at 2335, so the current low of the 4-wave correction has not broken through the top of the first wave at 2335.



Therefore, once it stabilizes from 2335, there is a high probability that it will rise in the fifth wave, and it is very likely to break through 2378.



You can also see in the picture that the position of 618 above is here at 2378, and the 100% position is near 2405.



Therefore, at present, 2335-2340 can definitely be long. The upper target is 2378, followed by the high point of 2405.

Trade active:

An upward trend has formed

Trade active:

Gold has started to rise

Trade active:

The upward trend of gold is very stable, waiting to take profits

Trade active:

The general direction of gold remains bullish

Trade active:

Continuing to make profits

Trade active:

Gold broke through 2350 as expected. I think you can guess what will happen next.

Trade active:

Gold rises and makes huge profits today