XAUUSD July 4, 2024 will the price still decrease?
We expected a shakeout to enter the line but the price did not create this spring and completed the Flat correction pattern with wave c equal to wave a. Then the price increased sharply to the 2365 area
- The completion of wave c means that wave 2 has also completed. Now the price enters wave 3
- The target of wave 3 is at least fibo 1.618% of purple wave 1, so we have the minimum expectation at the price range of 2395
- Looking at the smaller black trend, the price has gone through 4 waves 1234 and we wait for wave 5 to complete and then the price will have a correction before continuing to increase.
- My suggested buying zone is the price range 2342 - 2340, which is the expected target of the completed major correction.
Xauusdidea
XAUUSD July 2, 2024 will the price continue to increase?Looking at H1, we see that the price is having a recovery to the 2334 area. Looking at the recovery candles, we see that these are short-bodied candles, which proves that the price momentum is weak and will not make the price go far. Okay
- Looking at the overall price correction, the price is in a Flat correction model. With this model, we continue to expect the price to complete wave C before continuing.
We continue to wait for the price to touch the target of wave C at the price range 2311 to 2304 to enter a Buy order.
XAUUSD July 1, 2024 Has the uptrend begun?Last week we saw that from H1, the price completed a 5-wave pattern. According to the Elliot principle, this could be wave A or impulse wave 1
- Whether it is a wave A pattern or a complete wave 1 pattern, the 5-wave pattern is always followed by a correction wave
- We expect the abc corrective wave pattern to find a trading setup when wave c completes
- As shown on h1, we see that the correction pattern is in wave b phase and after wave b completes, we will determine the target of wave c to decide to enter the order.
- Looking at h1, we see that the demand zone created by the bottom of wave 4 has been approached many times so this zone has been weakened and there is a high possibility of being breached, this reinforces for us that the bearish wave C will form.
From the current data, we can temporarily measure the target of wave C at two price zones: 2311 and 2304.
From the target area of wave C we can find buy orders
- In case the price breaks through the 2294 zone, our wave counting process is no longer correct, then I will update the new wave counting settings.
- Area 2294 is also a good Stoploss area for our buy order
GOLD SETUP TRADE WIH 1:15 RISK REWARDGOLD SETUP TRADE WIH 1:15 RISK REWARD
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 15 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 15 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
GOLD SETUP TRADE WIH 1:8 RISK REWARDGOLD SETUP TRADE WIH 1:8 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 1H trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:8 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
XAUUSD June 28, 2024 Where will the price increase go?Yesterday we had a price increase in the 2295 area.
As I said, if in this zone the price increases beyond 2316.8, we have to count the waves again
- We are still in a downtrend and this increase is just a recovery
- The new wave counting process is denoted as on the graph. The price decline ended at 2295, wave 5 has completed and next we have the ABC correction process.
- Wave A is a 5-wave pattern and currently we see the price is in the wave 4 target area.
- Next we have the price will continue to complete wave 5 to complete wave A
- So with the Buy settings we can set the appropriate TP, you can gradually increase the SL to avoid losing profits.
- We have 2 price zones to complete the wave A target: 2332.9 and 2341.4, these are two potential price zones for the current price increase.
XAUUSD on June 27, 2024, the final decline?
The price has approached the 2295 zone and is currently recovering very weakly in this zone.
- There is a high possibility that the price will continue to break this zone and drop to the 2287 zone.
+ At area 2287, if the price breaks out below this area, the price will continue to complete the target of wave 5 at price area 2256 or 2210.
+ If the price continues to rebound and surpass the 2315 price range, then we can say that the correction has not ended and the current price is still in a complex correction, then we have to count the waves again ( I will update if this situation happens)
- At this price range, we should only observe or play Scalping because we have two price resistance zones that are quite close to each other, the 2295 zone and the 2287 zone.
GOLD SETUP TRADE WIH 1:11 RISK REWARDGOLD SETUP TRADE WIH 1:11 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 1D trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:7 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:5 RISK REWARDGOLD SETUP TRADE WIH 1:5 RISK REWARD
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
XAUUSD June 26, 2024 important price zones?
Yesterday's price broke the 2334 zone, confirming the abc wave correction process, which also means that wave 1 and orange wave 2 have completed.
After that, the price continues to decrease to continue completing wave 3. We have the characteristics of wave 3 as moving quickly and sharply,
- So we wait for the candle to close below 2316.8 to confirm the correction to complete.
- The second important price zone to confirm that we are in wave 3 is the price zone 2309 that needs to be broken down and the sufficient condition is that the price breaks below 2287.
- After the price has broken below the 2287 area, the target price area we have measured will be considered the 2256 price area and then the 2210 price area.
- I have listed important price zones so you can have the best trading management plan.
- Trading plan with sold transactions from the 2334 - 2337 range, you can watch these price zones to lock in partial profits or you can DCA when the price breaks out through these price zones.
- When the price breaks out through these price zones, you can find an entry point for a Sell order
GOLD SETUP TRADE WIH 1:10 RISK REWARDGOLD SETUP TRADE WIH 1:10 RISK REWARD
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
XAUUSD June 25, 2024 Is the rally over?Yesterday the price touched the wave 4 target zone that we predict is the 2329 zone.
- Currently, the price is reacting at the 2334 area. Looking at the current H1 candlestick model, we see withdrawal candles appearing in this area, proving that there is very strong selling force blocking the price increase in this area.
- The ending target of this correction is around the 2334 zone. It is important that we wait for a reversal confirmation signal in this zone to be able to set up a Sell trade.
- Note that currently on the H1 frame, I am seeing a momentum signal entering the oversold area. This indicates a high possibility that a small price increase will occur. This is a very good opportunity to confirm a reversal. We need to pay attention. close
+ If this increase does not break through 2334.2, then we will have a reversal signal at the 2334.2 price range. So the entry point is when the price breaks to the previous bottom.
+ If the price breaks through 2334.2, then we will continue to observe that the price may approach the 2340 to 2342 range. Then we wait for a reversal confirmation to find a point to enter a sell order.
The market is always fluctuating and nothing is certain, so Deekop wants his analysis to help you strengthen your trading strategy. I will update more when there are fluctuations in the market. Thank you everyone for following
GOLD SELL SETUP TRADE WIH 1:7 RISK REWARDGOLD SETUP TRADE WIH 1:7 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 1D trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
GOLD SETUP TRADE WIH 1:7 RISK REWARD
A good falling detected on GOLD
It's showing a fall due to these reason
1. It's following THE 30 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bearish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
Follow for more
XAUUSD June 24, 2024 Will the downward wave continue?
Prices are recovering after a sharp drop on Friday.
- According to the Elliot wave principle, a sharp wave moving quickly is wave 3 in a series of 5 waves.
- So it is possible that the current increase is a correction in wave 4, so we will continue to have wave 5 continuing to decrease after wave 4 correction is completed.
- The nearest resistance zone is the 2330 zone. We will monitor this zone and it may be the target of wave 4.
- The target zone for wave 5 from the current forecasts is estimated at 2309. After reaching this zone, we will have the completion of the orange wave 1 in the larger wave.
- Then the price recovered to complete the 2 orange correction wave. We predict wave 2 target at 2343.59
Trading plan
- The main trend is downtrend, so for long-term transactions we prioritize sell orders. The best price zone to enter an order is the price zone that completes the orange wave 2, which is the 2343.59 zone. When the price reaches this zone, look for a confirmation reversal signal to enter the order.
- With SCalping trades, we wait for the price to react at the support and resistance zones to enter orders. Note that Scalping trading is a short wave trade, so the TP is usually from 30 pips to 100 pips, so you should focus on managing the trade. Translation to limit risks
GOLD SETUP TRADE WIH 1:10 RISK REWARDGOLD SETUP TRADE WIH 1:10 RISK REWARD
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
GOLD SETUP TRADE WIH 1:10 RISK REWARDGOLD SETUP TRADE WIH 1:10 RISK REWARD
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
XAUUSD trading plan for the week of June 4, 2024
So after Friday's sharp drop, we had a profit of 500 pips. This decrease also confirmed the completion of orange wave C in the ABC correction.
After the ABC correction is completed, we bet that the previous downtrend wave will continue.
- With Friday's decline, we see that the momentum has entered the oversold zone, showing that sellers are showing signs of exhaustion. So in the immediate future there will need to be a short-term correction for sellers to regain their strength.
- We measure that this decrease is likely to end at 2 price zones: 2309 or 2395.
- With the assumption that the price range ends at 2309, we measure the target of this temporary upward adjustment ending at 2340.
- Then the price continues to decrease to complete the big wave 5 at the target price areas that we measured before, which are 2256 and 2210.
- When does our wave counting process fail? That's when this rally price broke through the 2374 area, then confirmed that we have to do the wave count again, then I will update later if it happens.
- On the H4 chart, I have drawn important resistance and support zones, which we can rely on to plan Scalping when the price approaches these zones.
- I will update specific price developments every day.
XAUUSD June 21, 2024 Is the rising wave over?Our wave C target has been achieved, looking at the price we see
- Yesterday after the news of unemployment benefits was announced, the price increased sharply to our target area of 2364 and is currently correcting. So the price increased sharply and quickly, which is the characteristic of wave 3, then the price decreased and adjusted until now, so it is likely that the price is in wave 4.
- So we may have wave 5 to end this wave C and from current price data we can measure the target area for this wave C from 2364 to 2374.
We will consider the price range from 2364 to 2374, this is a very good price range to sell down.
After the price reaches the target of wave C as above, if the price breaks the 2387.5 zone, then our trading plan must change.
In case the price drops, we have the goal of completing the big wave 5 as shown on the chart at area 2256 and area 2210.
XAUUSD 21 juin 2024 La vague montante est-elle terminée ?Notre objectif de vague C a été atteint, au vu du prix que nous observons
- Hier, après l'annonce de la nouvelle des allocations de chômage, le prix a fortement augmenté jusqu'à notre zone cible de 2364 et est actuellement en train de se corriger. Le prix a donc augmenté fortement et rapidement, ce qui est la caractéristique de la vague 3, puis le prix a diminué et s'est ajusté jusqu'à présent, il est donc probable que le prix soit dans la vague 4.
- Nous pourrions donc avoir la vague 5 pour mettre fin à cette vague C et à partir des données de prix actuelles, nous pouvons mesurer la zone cible de cette vague C de 2364 à 2374.
Nous considérerons la fourchette de prix de 2364 à 2374, c'est une très bonne fourchette de prix à vendre.
Une fois que le prix a atteint l'objectif de la vague C comme ci-dessus, si le prix franchit la zone 2387,5, alors notre plan de trading doit changer.
En cas de baisse des prix, nous avons pour objectif de compléter la grande vague 5 comme indiqué sur le graphique dans les zones 2256 et 2210.
XAUUSD on June 20, 2024 after bank holiday
Today will be announced the number of applications for unemployment benefits. This index will tell us how the current economic situation is affected by the Fed's policy on interest rates.
If these indexes decrease, it will tell us that the Fed's recent policies have not had a large impact on the economic situation, which will create conditions for the Fed to maintain its hawkish policy and then the USD will increase. and XAU will decrease
If this policy increases compared to the previous period, this signals that the Fed's policies are negatively impacting the economy, affecting all classes of people, creating pressure for the Fed to relax interest rates in the future. in the near future and this will cause the USD to decrease and XAU to increase.
Price broke out of the triangle wedge this morning with a strong candle. So we are leaning towards the ABC correction model
- So the price target of wave C as last time we measured at 2 price zones 2350 and 2365 price zone.
- After the price reaches this target, the price will continue to trend down to complete the large wave C in the D1 time frame.
- Our current trading plan is to wait until the wave C target at 2350 or 2364 to find a selling point or we can go to smaller time frames for scalping trading.
GOLD SETUP TRADE WIH 1:6 RISK REWARDGOLD SETUP TRADE WIH 1:6 RISK REWARD
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
A good Buying detected on GOLD
It's showing a fall due to these reason
1. It's following THE 60 M trendline here
2. It's ready to break the neckline
3. In day chat it's showing the heavy bullish pressure
Just grab out will your own risk
With a small amount
Stay connected
Stay happy
Bande mataram
XAUUSD Trading strategy for complex corrections
Look at H1
- We see that currently the price is tending to form a triangle correction pattern.
- As I said before, the price is currently in a complicated adjustment process, we can only wait for the model to complete to determine the next trend.
- And I am also predicting an ABC correction model with the target wave C on the chart with 2 price ranges 2350 and 2365. However, currently we see that the price is in a position where it can form a triangle correction model and ABC correction pattern may continue. So at the present time we wait at the price of 2341.8 to confirm any model.
- If the price breaks 2341.8, the targets of wave C continue to be completed. Then we wait for the target levels of wave C, i.e. area 2350 or area 2365, to sell down.
- If the price cannot break the 2341.8 area, the price may form a triangle correction pattern abcde. Then we wait for the price to break the lower boundary of the triangle pattern to sell to the target area of wave 5.
In general, in a complex adjustment process, it is not feasible to conduct many transactions in this area, so we should patiently wait for the target areas. In this process we will prioritize Scalping
XAUUSD June 18, 2024 a potential sharp declineGold prices are recovering after last week's sell-off as the US economy forced the Fed to adopt a more dovish stance. Weak manufacturer inflation data and a rise in initial jobless claims supported lower interest rates. Additionally, escalating geopolitical tensions, such as increased attacks by Hezbollah on Israel and more Russian warships in the Caribbean, have contributed to this rebound.
Looking at the adjustment process from June 8 to the present time, we can see that this is a complicated adjustment process.
- Trading in a complex correction is not recommended. We watch for this adjustment process to complete
- During this process we can scalp in short price ranges in smaller frames.
- When the price reaches the expected targets, we will consider placing an order.
Looking at H1, we see that the wave C correction process is still continuing. We observe the price reaching the target price zones 2350 and 2356.
- The price will confirm the target areas of wave C when it breaks out of the 2341.8 area, then we focus on observing the chart to find a Sell order.
- In case the price breaks out of the 2296 price range, it is likely that the adjustment process has been completed and if the price also breaks out of the 2287 area, then the target price area for wave 5 is 2256 and 2210 will be the areas we focus on. closely to find Buy orders.