XAU/USD WAVE ANALYSIS
A decline is possible.
On the daily chart, the fifth wave of the wave (5) of the high, in which wave (3) of 5 was formed, is developing upwards. Currently, the correction is developing as the fourth wave 4 of (5), in which wave a of 4 ended, and the correction was formed as wave b of 4. If the forecast is correct, the XAU/USD pair will fall to the 2416.00–2300.50 zone along with wave c of 4. The critical stop loss level in this scenario is 2792.85.
Main scenario
Short positions would be appropriate below 2792.85 with targets of 2416.00–2300.50. Trading period: 7 days and above.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.