XAUUSD Potentially Bearish.
Hello there,
The gold trend is generally bullish in higher time frames; however, this week's candle appears to be in an exhaustion phase, potentially represented as either Wave 3 or Wave 5 of the Elliott Wave.
The price has the potential to drop in the 1-hour time frame, with two price targets biasing toward 2678.14.
Happy Trading,
K.
The gold trend is generally bullish in higher time frames; however, this week's candle appears to be in an exhaustion phase, potentially represented as either Wave 3 or Wave 5 of the Elliott Wave.
The price has the potential to drop in the 1-hour time frame, with two price targets biasing toward 2678.14.
Happy Trading,
K.
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Failed Momentum Alert.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.