Gold Analysis==>>Symmetrical Triangle

Oct 4

Gold seems to have succeeded in breaking the Uptrend line and has also formed a Symmetrical Triangle pattern.

According to the Elliott wave theory, Gold has succeeded in completing the main 5th wave.

I expect Gold to at least fall to the Support zone($2,600-$2,580) after breaking the lower line of the symmetrical triangle.

⚠️Note: Tensions in the Middle East can directly affect the trend of Gold, so pay more attention to capital management.⚠️


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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Oct 5

Trade active

Trade was activated

Oct 8

Note

Gold was able to break the lower line of triangle.

Oct 8

Trade closed: target reached

Target Done