Gold Analysis==>Falling Scenario

Jul 4, 2024

Gold is moving in the Resistance zone($2,373-$2,354) and Ascending channel.

According to the theory of Elliott waves, it seems that Gold has succeeded in completing the Zigzag correction(ABC/5-3-5).

I expect Gold to attack the Support zone($2,338-$2,318) in the coming hours after breaking the lower line of the ascending channel.

Note: If Gold can break the Resistance zone($2,373-$2,354), scenario will be changed.

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

Do not forget to put 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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Jul 5, 2024

Trade active

Jul 5, 2024

Trade closed: target reached

Shadow