Gold is Ready to Fall again!!!

Dec 11, 2024

Gold(XAUUSD) started to pump, as I expected in the previous post.

Gold is entering the Resistance zone($2,740-$2,708) and Potential Reversal Zone(PRZ)[$2,733-$2,715)] and approaching the Upper line of the Ascending Channel.

According to Elliott's wave theory, Gold is completing microwave 5 of the main wave C.

Also, Regular Divergence(RD-) between Consecutive Peaks.

I expect Gold to fall to at least the Support zone($2,670-$2,653) after breaking the lower line of the ascending channel.

⚠️Note: If Gold breaks the Resistance zone($2,740-$2,708), we can expect more pumps.⚠️

⚠️Note: Tomorrow's US indices can impact the Gold trend. (Today's US indices were all as Forecasted).⚠️

🔔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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Dec 12, 2024

Trade active

Trade was activated

Dec 12, 2024

Trade closed: target reached

My position closed with profit