XAUUSD 9/8/2024 Is the Uptrend Over?

Aug 9

Yesterday we saw a significant rally that confirmed my bullish view from yesterday.
- We see the price has broken above the 2406 zone so this price action has confirmed that the black wave 1 and 2 have formed and the price is currently in wave 3
- The characteristic of wave 3 is to move quickly and sharply, the target of wave 3 we measure will be in the 2428 zone or the 2453 zone, looking at the current price I am expecting the target of wave 3 to end in the 2428 zone
- And then there is a correction of wave 4 and continuing wave 5 the price bounces to the 2453 zone

Our trading plan will trade according to wave 5
BUY ZONE: 2412 - 2409
SL: 2402
TP1: 2428
TP2: 2442
TP3: 2450

SELL ZONE: 2450 - 2453
SL: 2463
TP1: 2442
TP2: 2428
TP3: 2406