Gold Analysis==>>Bearish Bat Pattern!!!

Nov 18

Gold(XAUUSD) is moving in the Resistance zone($2,606-$2,584) and near the Resistance line and the Upper line of the Ascending Channel.

It also seems that Gold can potentially form the 🦇Bearish Bat Harmonic Pattern🦇.

According to Elliott's wave theory, Gold seems to be completing the main wave 4. The main wave 4 structure is a Zigzag correction(ABC).

I expect Gold to continue falling after breaking the Lower line of the Ascending Channel to the lower targets.👇

🎯Targets of falling Gold:

🎯First Target: $2,571

🎯Second Target: $2,560

🎯Third Target: Around $2,536

⚠️Note: If Gold goes above $2,620, we can expect Gold to rise further.⚠️

🔔Be sure to follow the updated ideas.🔔

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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Nov 19

Trade active

As tensions between Russia and Ukraine rose, gold started to rise yesterday.

But to continue the trend, it most likely needs to be corrected, and the correction target can be around $2612