Gold Completes Wave 4 - Pullback – Time for the Next Push

5 mai

Gold(XAUUSD) touched $3,223 as I expected in the previous idea(Full Target).

Gold has managed to break the Resistance zone($3,308-$3,293) and is trying to break the Resistance lines and complete the pullback.

In terms of Elliott wave theory, it seems that Gold is completing microwave 4, which could act as a pullback to the broken Resistance zone($3,308-$3,293). After the completion of microwave 4, we should expect Gold to attack the Resistance lines to complete microwave 5.

I expect Gold to rise to at least $3,232, and if the Resistance zone($3,387-$3,357) breaks, we can expect further gains.

Note: If Gold touches $2,272 (the worst Stop Loss(SL)), we can expect further declines.

Gold Analyze ( XAUUSD ), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

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6 mai

Transaction en cours

Trade was activated after breaking the Resistance lines.

6 mai

Trade fermée: cible de profit atteinte

Full Target Done