XAUUSD Market Outlook: May-Week II/2022
The market showing a bearish 4th wave with an indication to form a triangle and I don't see any chance of 5th wave truncation as in the bigger cycle is showing an early stage of A-B-C correction. So this is our chance to make a huge profit this week!
So, my best scenario would be:
Sell on strength at 1894
1st target 1840
Ideal target 1816
Put stop loss slightly above the red line (1922)
Trade closed: target reached
Target reached
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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.