Gold Spot / U.S. DollarUpdated XAUUSD wave analysis
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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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.
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.