XAUUSD wave analysis
Updated
Xauusd currently near the resistance of 2365-2370
Two scenario from here :
Bullish scenario :
XAUUSD after making low of 2286 moving 3-3-3 waves till now
(a) wave completed from 2286 to 2368 (moved in 3 zigzag move up)
(b) wave completed from 2368 to 2293 (moved in 3 zigzag move down)
now
(c) wave started from 2293 to till now made high near 2365 ( internal wave a=wave b target done .
wave (c) can be 3 zigzag move abc which seems completed or it can be 3-3-5 up move
if wave (c) is in 5 wave than upside target is 2393.
Bearish scenario:
XAUUSD after making low of 2286 than moving 3-3-3-3-3 waves in triangle pattern.
of which wave abc completed
and wave d can be down in zigzag move for target of 2320-2310
Note : if it is bullish than gold should not go below 2340.
for bearish scenario one should wait for sturcture to change from HH-HL TO LH-LL
Two scenario from here :
Bullish scenario :
XAUUSD after making low of 2286 moving 3-3-3 waves till now
(a) wave completed from 2286 to 2368 (moved in 3 zigzag move up)
(b) wave completed from 2368 to 2293 (moved in 3 zigzag move down)
now
(c) wave started from 2293 to till now made high near 2365 ( internal wave a=wave b target done .
wave (c) can be 3 zigzag move abc which seems completed or it can be 3-3-5 up move
if wave (c) is in 5 wave than upside target is 2393.
Bearish scenario:
XAUUSD after making low of 2286 than moving 3-3-3-3-3 waves in triangle pattern.
of which wave abc completed
and wave d can be down in zigzag move for target of 2320-2310
Note : if it is bullish than gold should not go below 2340.
for bearish scenario one should wait for sturcture to change from HH-HL TO LH-LL
Note
xauusd made high near golden ratio $2393 andretracing to 2365-2355
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