Gold formed 5 ellott waves: discount on 1D chart

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Hello traders! On the 1D chart, we can see that a 5-wave Elliott pattern has formed. The downtrend from the high of 2050 has not been broken yet.

Currently, gold has risen to a resistance level at 1888 USD, so a short-term price decline may occur with immediate support at 1860 USD.

My target price is 1920 USD, with gold expected to reach the upper limit of the downtrend channel as analyzed.

Note

gold is down 1871 usd

Note

Gold price at the end of the transaction: price decreases slight

Transaction en cours

Trade fermée: cible de profit atteinte

Note

Nolan_Signal

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