XAUUSD 3/9/2024 Downtrend is over?
Looking at H1 we see that the price has reached the target of wave 4 that we expected and then decreased near TP3. Once again I would like to congratulate all of us on continuing to have a big win near Full TP3.
- So now the price is completing the down wave 5 to then continue to increase
- Looking at the overall correction, we can easily identify that this is a complex correction with many intertwined correction structures.
- In a complex correction trend, it is difficult for us to determine when the new trend starts. But with real trading, we only care about the setups that qualify for our trading, I will not try to predict each wave accurately
- Currently, I expect the target of wave 5 to end at the price zone of 2487 - 2484 and this is also our BUY target
- Above, I see 2 large supply concentration zones, which are the 2507 - 2510 zone, this zone is the target zone, the last time the price approached this zone, it was pushed down very quickly, and the 2525 - 2528 zone, looking at the chart, we see that the price was pushed down very deeply after approaching this zone last Friday. and these 2 zones are also our SELL target zones
BUY ZONE: 2487 - 2484
SL: 2477
TP1: 2499
TP2: 2507
TP3: 2518
BUY ZONE: 2471 - 2469
SL: 2461
TP1: 2485
TP2: 2499
TP3: 2510
SELL ZONE: 2507 - 2510
Sl: 2517
TP1: 2500
TP2: 2487
TP3: 2470
SELL ZONE: 2525 - 2528
SL: 2535
TP: 2518
TP2: 2510
TP3: 2500
Xauusdwave
XAUUSD 9/2/2024 price continues to decrease?
Looking at H1, we see a sharp decline on Friday last week to the 2494 area, signaling that this is wave 3 in the red 5-wave trend above.
- According to the 5-wave structure, the price is currently completing wave 4 and then the price will continue to move in a downward trend to complete wave 5. The target is measured for wave 4 at the price range of 3507 - 2510, this will be our SELL target price range.
- After reaching the target of wave 4, the price continues to move to complete the target of wave 5. Then we measure the target of wave 5 at the range of 2487 - 2484, this is our BUY target price range.
Trading Plan
SELL ZONE: 2507 - 2510
SL: 2517
TP1: 2499
TP2: 2493
TP3: 2487
BUY ZONE: 2487 -2484
SL: 2477
TP1: 2494
TP2: 2499
TP3: 2509
#XAUUSD/H4 Crossing the peak area, accumulating or adjusting?Trading trend analysis for the week of September 2 - September 6, 2024:
As per our daily analysis, the gold price is currently moving within the sideways range of 2490 - 2530, and there are no signs of a breakout from this area yet. However, the new week will bring the "FED interest rate decision," which could be significant news that helps break this sideways range. My prediction is that September will be a very challenging month for trading due to the poor W and M candle patterns.
The trading trend for next week will be BUY.
Key price areas to note:
BUY zone: 2480 - 2485, 2490 - 2495, 2510 - 2515.
SELL zone: 2526 - 2531, 2537 - 2542, 2548 - 2553.
Recommended orders:
Plan 1: BUY XAUUSD zone 2490 - 2492
SL 2487
TP 2495 - 2500 - 2515 - 2537.
Plan 2: BUY XAUUSD zone 2483 - 2485
SL 2480
TP 2490 - 2500 - 2515 - 2537.
Plan 3: SELL XAUUSD zone 2539 - 2541
SL 2544
TP 2535 - 2525 - 2500 - 2465.
XAUUSD 8/29/2024 Is the uptrend over?
Yesterday as predicted, wave C was completed with very strong selling pressure, we did not reach the target of the first BUY zone, but at the second BUY zone, we had a big win of 210 pips, congratulations to all of us.
Currently, the uptrend is still dominant. Looking at the current trend, we expect a 5-wave structure as shown on the chart. Besides, there is still the possibility of an ABC correction structure.
- We have the price zone 2510.7 as a confirmation point, if the price closes above 2510.7, then we are in a 5-wave uptrend. If the price closes below 2510.7, then this increase is just an ABC correction and then the price continues to decrease when the structure is completed.
- My current view is leaning towards a 5-wave bullish structure because I am expecting wave C to reach its target at 2493.7 and then a 5-wave structure will follow, then we have wave 5 target at 2536 - 2539, this is the first target and this is also the target area for us to SELL
- If the current structure is an ABC correction structure, then we have wave C target at 2487 - 2484, this will be our BUY target
- In addition, we have a large demand concentration area at 2509 - 2506, so this is also a target area for us to BUY SCALP
Trading plan
BUY SCALP ZONE: 2509 - 2506
SL: 2499
TP1: 2518
TP2: 2524
TP3: 2531 BUY ZONE: 2487 - 2484 SL: 2477 TP1: 2499 TP2: 2506 TP3: 2531 SELL ZONE: 2536 - 2539 SL: 2546 TP1: 2531 TP2: 2524 TP3: 2509
XAUUSD 8/28/2024 Has the price started a new trend?
Looking at H1, we see a completed 5-wave structure followed by a correction structure. Currently, we have 2 possibilities that can happen with the current price structure
Case 1, we have a Flat correction structure with peak B equal to peak 5 as shown on the chart. Then we need to wait for the price to complete wave C to be able to trade. In this case, it is confirmed when the price breaks through the 2503.9 zone
- Case 2 is that the price has completed the ABC correction wave at the 2503.9 price zone and the price is currently in a 5-wave uptrend structure. If so, we have the current correction wave as correction wave 2 in a new uptrend structure, then we expect the price to break through the 2526.6 zone to create a new higher peak. And this case is confirmed when the price breaks through 2526.6.
Combining the possibilities we have the following trading targets. Pay special attention because the current price structure is still unclear, requiring us to manage the transaction closely.
SELL ZONE: 2536 - 2539
SL: 2546
TP1: 2527
TP2: 2519
TP3: 2523
BUY ZONE: 2512 - 2509
SL: 2502
TP1: 2519
TP2: 2531
TP3: 2536
BUY ZONE: 2498 - 2495
SL: 2488
TP1: 2509
Tp2: 2519
TP3: 2531
XAUUSD 26/8/2024 Will the uptrend continue?
Last week we saw a special increase on Friday.
- This increase confirmed the completion of the ABC correction wave and the price continued to increase.
- Looking at the current uptrend, we see a structure of short candles with weak momentum. So this could be a big wave 1 in the uptrend structure. Looking at the bullish wave structure, we see that there are 5 black waves
- Currently, I am leaning towards the black ABC correction structure
- Looking at the chart, we see that the black wave A has been completed and the price is currently completing the black wave B
- The target for completing the black wave C is I predict at the price range of 2500 - 2497 or the price range of 2489 - 2486, this will be my BUY target
- Above, we see that there is still a very strong supply zone at the price range of 2531 - 2534, this is the old peak, so if the price wants to surpass the old peak, it needs to absorb all of this supply. So I will set the SELL target down here
Trading plan:
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2509
TP3: 2500
BUY ZONE: 2500 - 2407
SL: 2400
TP1: 2509
TP2: 2519
TP3: 2530
BUY ZONE: 2489 - 2486
SL: 2479
TP1: 2499
TP2: 2509
Tp3: 2530
#XAUUSD/H1 Weekend trading trends. Opportunities and risks ?Forecast for 8/23/2024:
Gold is expected to continue its correction, with a high likelihood of further adjustment. Frame D has shown a reversal, presenting an opportunity for short selling and preparing for a strong rise after the completion of gold's momentum.
The trading trend for today is SELL.
Key price levels to watch:
SELL zones: 2497 - 2500 and 2508 - 2511. BUY zones: 2473 - 2476 and 2450 - 2454.
Recommended orders:
Plan 1: SELL XAUUSD zone 2497 - 2499
SL 2503
TP 2494 - 2485 - 2475 - 2450.
Plan 2: SELL XAUUSD zone 2509 - 2511
SL 2515
TP 2500 - 2490 - 2480 - 2450.
Plan 3: BUY XAUUSD zone 2473 - 2475
SL 2469
TP 2480 - 2490 - 2495.
XAUUSD 23/8 has the uptrend started?
Looking at H1 we see
- Yesterday we saw a sharp decline after the PMI news, the price reached our BUY Entry, up to now we have a 190 pips victory, congratulations to all of us.
- Now looking at the uptrend we see a 3-wave structure, on the other hand we see that yesterday's downtrend has the characteristic of sharp and fast movement, so we expect wave 3 to have formed and currently the price is correcting wave 4.
- With the target of wave 4 I measured, wave 4 has reached the price target and now we are waiting for wave 5 to complete.
- Wave 5 is confirmed when the price breaks through 2470.7 and the target is measured at the price zone of 2460 - 2457
- Because the price zone of 2470 is also the target price zone of wave 5 that we measured from the previous day's plan, we cannot rule out the possibility that the downtrend structure has been completed and it is confirmed if the price does not break through the 2470 zone. Then the price will continue the uptrend.
Our trading plan will aim to BUY when the price breaks through 2470
BUY ZONE: 24600 - 2457
SL: 2450
TP1: 2470
TP2: 2486
TP3: 2498
SELL ZONE: 2499 - 2502
SL: 2509
TP1: 2486
TP2: 2479
TP3: 2470
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2501
TP3: 2486
XAUUSD 19/8/2024 price has created ATH?
Last weekend we had a strong increase on Friday that broke the old peak to create a new ATH.
This increase has caused the RSI indicator to enter the overbought zone. In my experience, when the price moves quickly and sharply while looking at the RSI entering the oversold zone, this is a sign of wave 3.
- Currently we see the price falling to the 2500 zone, so we expect an ABC downtrend structure of wave 4.
- I measured the wave 4 target at the 2485 - 2483 zone, after reaching the wave 4 target, we expect a wave 5 increase to complete the 5-wave uptrend structure.
- I measured the wave 5 target at 2517 - 2520 and 2531- 2534 zones, these are the 2 target zones I expect to SELL down.
Trading Plan
BUY ZONE: 2467 - 2463
SL: 2457
TP1: 2493
TP2: 2500
TP3: 2517
BUY ZONE: 2485 - 2482
SL: 2475
TP1: 2500
TP2: 2509
TP3: 2517
SELL ZONE: 2517 2520
SL: 2527
TP1: 2506
TP2: 2500
TP3: 2484
SELL ZONE: 2531 - 2534
SL: 2541
TP1: 2519
TP2: 2500
TP3: 2484
XAUUSD 16/8/2024 Has the Uptrend Started?XAUUSD 16/8/2024 Has the Uptrend Started?
Yesterday after the PPI news, we saw a strong shakeout and the price came close to the 2nd BUY target zone that I had given and then bounced strongly. But I did not expect such a strong downtrend, so the price zone of 2445 - 2442 did not set a BUY order.
Today I expect a correction wave to the 2447 - 2444 zone to complete wave 2 in red and then continue the uptrend according to wave 3.
During the price increase according to wave 3, we pay attention to large supply zones such as the 2476 zone, the 2484 zone and the 2500 zone, these are the zones I choose as targets to SELL down
Trading plan
BUY ZONE: 2447 - 2444
SL: 2437
TP1: 2458
TP2: 2468
TP3: 2476
SELL ZONE: 2484 - 2487
SL: 2494
TP1: 2476
TP2: 2468
TP3: 2458
SELL ZONE: 2497 - 2500
SL: 2507
TP1: 2484
TP2: 2476
TP3: 2468
XAUUSD 15/8/2024 Has the uptrend started?
Yesterday's CPI news showed a sharp increase in price when it was announced and then a sharp decrease. This is a move to shake off the sellers so that the price can complete wave C.
- The sharp decrease in wave C is still, in my opinion, the final shakeout before the price starts to increase to complete wave 5
I predict that this week the price will likely create a new ATH followed by a further correction.
- The wave 4 target I set yesterday has been completed at the price range of 2442 to 2445. With a Buy order at this price range, we have a profit of 100 pips. You can close a part of it and raise the SL to Entry. I have a backup target at 2430 - 2427 we will look at this target if price breaks out 2439
- I see a big supply zone at 2468 - 2471 so I will set a Sell scalp target at this zone
- Our main Sell target is the end of wave 5 now I am targeting the first wave 5 target which is 2500.
Trading Plan
BUY ZONE: 2430 -2427
SL: 2420
TP1: 2439
TP2: 2458
TP3: 2476
SELL ZONE: 2468 - 2471
SL: 2478
TP1: 2458
TP2: 2452
TP3: 2444
SELL ZONE: 2497 - 2500 SL: 2597 TP1: 2484 TP2: 2476 TP3: 2458
XAUUSD 13/8/2024 Has the Downtrend Started?
Yesterday was an unusual bullish day, although we had profit with sell orders, the price increased to the 2476 area, which gave us an extended yellow wave 5, which also means that the black wave 3 has been completed
- Currently the price is in the 4th wave correction, we expect a yellow ABC correction and this is an opportunity for us to trade in the direction of wave 5.
- Trading plan
BUY ZONE: 2442 - 2439
SL: 2432
TP1: 2450
TP2: 2458
TP3: 2469
BUYZONE: 2435 - 2432
SL: 2425
TP1: 2440
TP2: 2450
TP3: 2458
SELL ZONE: 2470 - 2473
SL: 2480
TP1: 2458
TP2: 2450
TP3: 2442
SELL ZONE: 2492 - 2495
SL: 2502
TP1: 2476
TP2: 2469
TP3: 2458
XAUUSD 6/8/2024 Is this rally over?
This past week we have seen a lot of volatile news that has affected the direction of gold prices
With the unstable geopolitical situation causing large fluctuations in gold prices
- Looking at H1 we see a completed ABC corrective wave structure. Following an ABC corrective structure we expect a 5 wave bullish structure. Obviously not excluding the possibility of a complex correction wave then I will update if it happens
- Currently we expect a bearish correction to confirm wave 1 and wave 2 completed and wave 1 and 2 confirmed when price closes above 2365.6
- This current correction we expect a yellow abc wave pattern and target at 2385 price zone or 2377anh price zone
Trading plan
BUY ZONE: 2385 - 2382
SL 2363
TP1: 2393
TP2: 2404
TP3: 2418
SELL ZONE: 2421 - 2424
SL: 2447
TP1: 2408
TP2: 2396
TP3: 2385
XAUUSD 5/8/2024 correction is over?
Looking at H1 we see the ABC correction wave structure.
Looking at the ABC correction model, we see that we are likely to have an unusual correction model, when wave C does not exceed wave A.
- So now we need to observe to confirm whether the correction wave has ended
- The confirmation condition is that if this downtrend closes above the 2413 zone, then we have the price entering the uptrend wave and then the target price zone is the 2500 zone.
Currently we have a trading plan
SELL ZONE 2456 - 2459
SL 2466
TP1: 2447
TP2: 2442
TP3: 2433
BUY ZONE: 2426 - 2423
SL: 2416
TP1: 2433
TP2: 2442
TP3: 2455
XAUUSD 1/8/2024 after FOMC news?
Looking at H1, we see that after this morning's FOMC news, we see that XAU has increased to the 2458 zone
- As I analyzed in the previous plan, when the price breaks through the 2402 zone and then tests again and does not fall below this zone, the price will continue the 5-wave trend instead of the 3-wave ABC.
- Regarding the trend, after the price follows the 5-wave model, the next wave target is the 2500 price zone as analyzed before.
- Looking at the present, we see that wave 3 in the blue 5-wave structure is completing, and the price has now started blue wave 4
- Measuring the wave 4 target, we have the price zone of 2433. This will be the price zone we are waiting for as a BUY target
- The target of wave 5 will be specifically determined by me after wave 4 is formed. With the current data, I am expecting wave 5 to end at the price zone of 2500
Trading plan
BUYZONE: 2433 - 2430
SL: 2423
TP1: 2422
TP2: 2450
TP3: 2465
SELL ZONE: 2467 - 2470
SL: 2477
TP1: 2450
TP2: 2422
TP3: 2433
XAUUSD 7/30/2024 How far will the price go?
After the 5-wave downtrend structure, we are witnessing an increase from 2354 to 2402
- So we will have 2 cases either the 5-wave downtrend structure has completed wave C then we have the current increase as a 5-wave structure, case 2 is the 5-wave downtrend structure above has just completed wave 1 in the 5-wave structure of wave C so the current increase is wave 2 and will have an ABC wave structure.
- We will have an important price to confirm that is the price of 2402, both cases need the price to break out through 2402. After the price breaks out through 2402 and the price returns below 2402, then we will lean towards the current situation being just a correction wave 2 in the 5-wave structure of the purple wave C. If the price breaks out through 2418, we will lean towards the possibility that this is a 5-wave increase structure and the possibility that the price will break through the peak of 2433.
So at the 2418 area, this is the current area containing a large amount of supply, which will be a strong resistance level for the price, so when the price touches this area, there will be a reaction, and we will choose this area as the SELL target
Trading plan
SELL ZONE: 2415 -2418
SL: 2425
TP1: 2402
TP2: 2390 TP3: 2374 BUY ZONE: 2357 - 2354 SL: 2347 TP1: 2365 TP2: 2374 TP3: 2382
XAUUSD 7/29/2024 Is the uptrend over?
Looking at H1, we can see that the corrective uptrend may have ended.
- The price will continue to move in a downtrend to complete the purple wave C as shown on the chart.
During the move to the target price zone of wave C, we see that at the 2374 treble line, this is the previous breakout price zone and has not been retested, so there is still a very strong demand force in this price zone.
- We expect the price to bounce back to the 2374 zone, so we will place a BUY order in this zone.
Trading plan
BUY ZONE: 2376 - 2373
SL: 2366
TP1: 2382
TP2: 2400
TP3: 2410
SELL ZONE: 2314 - 2417
SL: 2424
TP1: 2401
TP: 2382
TP3: 2365
XAUUSD 7/26/2024 Is there a pullback?
Looking at H1, we see that the price breaking the 2382.5 zone has confirmed that the price is in the purple wave C
- From the peak of 2433 to the bottom of 2353, we see a small 5-wave structure has been completed and now we see that the bullish recovery wave is continuing, we expect a corrective wave
- The target of the rebound wave I measured at the price zone of 2402 and the price zone of 2411
- So this increase we expect is a rebound wave before the bearish wave continues to the target zone of the purple wave C
- The target of the purple wave C we measured at the zone of 2334 and the zone of 2307
Trading plan
BUY ZONE: 2366 - 2363
SL: 2356
TP1: 2382
TP2: 2394
TP3: 2402
SELL ZONE: 2310 - 2312
SL: 2320 TP1: 2400 TP2: 2390 TP3: 2382
XAUUSD July 23, 2024 Where will the rising wave go?
Looking at the H1 chart, we have a completed 5-wave bearish pattern
- The target of wave 5 has been achieved near the price range of 2382 that I predicted yesterday
- After completing the next wave 5, there will be 2 cases, the first case is that the price continues the 5-wave impulse wave pattern. The second case is the abc bullish correction pattern.
- Regardless of the pattern, we now expect a price increase at least according to the abc correction pattern
- The target of ending the correction wave will be specifically determined when the wave has completed at least 2 waves a and b. Based on current price data, I estimate the target of the correction wave is the price range 2433.
- If this rally gets past 2453 then we will be leaning towards a trend rally to 2500 then I will update everyone.
Trading plan
BUY: 2491 - 2488
SL 2483
TP1: 2420
TP2: 2433
SELL ZONE: 2433 - 2436
SL: 2431
TP1: 2411
TP2: 2494
XAUUSD July 22, 2024 Is the decline over?
The information that President Biden withdrew from running due to his health further confirmed Trump's high chance of winning the election. This information immediately caused XAU to gap up on Monday morning
Looking at H1 we see a sharp sharp decline, this is the ongoing wave 3.
- At the price range of 2394, we have a strong rebound. From this rebound we expect that wave 3 has ended and this rebound is wave 4.
- The target of wave 4 I measured at the price range 2420 or price range 2428
- After completing wave 4, the price continues to decrease to complete the 5-wave pattern
- With the current price data, I can temporarily measure the expected target of wave 5, the last down wave of this downtrend, at the price range of 2382 or the price range of 2366.
- After the end of this price reduction, we expect a strong recovery and I will update the specifics of this recovery after the price completes this 5-wave decline.
- Our trading strategy is to observe price reactions at support and resistance zones to enter orders
XAUUSD on July 18, 2024 continues to wait for the target zone?
Continue with the previous day's plan
- Looking at H1, we have black wave 5 which is an expanding wave.
- In the black wave 5, there is a yellow 5-wave structure and now we have a yellow 4 wave that may have completed.
- From the measured targets for the end of wave 5 of the plans in recent days, we will have the first target at the round number area of 2500
- Currently we wait for the price to reach the target area of 2500 to find conditions to SELL
XAUUSD July 17, 2024 Will the rising wave continue?XAUUSD July 17, 2024 Will the rising wave continue?
The information we received is that Mr. Trump's brother is officially named as the Republican candidate. The fact that Mr. Trump is a bright candidate for the United States is creating conditions for XAU to increase in price because of its policies. In the past, he advocated for reducing interest rates to focus on economic growth.
The information released from the Fed in recent days shows dovishness with announcements that curbing inflation is very effective as well as statements from Fed Chairman Powell also making dovish comments. . This also makes the expectation that interest rate cuts will happen sooner.
Looking at H1, we see that yesterday there was a strong increase, which shows that we are having wave 5 extension.
We are measuring wave 5 and currently have two important target price areas to observe: the 2481.6 area and the 2500 round resistance area.
- At this time we should limit buying because the price is at the peak of the price force. Looking at the RSI, we see that the price momentum is weakening, while the price is still increasing, this signals that the current uptrend has ended. weakening force increased insignificantly
- We have target price zones to find selling points at 2481.6 and 2500.
- We expect the price to have a slight correction and then create a new peak near the 2500 area and the RSI peak will then diverge, which will be a nice sell trade setup. We continue to observe the price in this area to find a Sell down point.
- In the immediate future, we have a target area for the downward correction wave at the price range of 2438.6. When there is more data about the dark price, this target area will be updated
XAUUSD trading plan for week 1, July 2024
Looking at D1, we see that the adjustment process has reached the end of the period
- Unlike impulse waves, corrective waves take a long time and often have complex patterns that are difficult to predict.
- Looking at the current model, I am leaning towards the complex triangle correction model with ABCDE structure in Elliot
- The beauty of Elliot is that there are price levels that confirm whether we are moving in the right direction.
- We have 2 prices that confirm our wave counting
+ If the price level 2284.37 is broken below then our current assumption is no longer correct then our previous assumption that the ABC correction model I mentioned last week will apply
+ If the price level of 2365.7 is broken, the triangle correction model we are predicting will be confirmed.
- So our plan is to wait for the price to break out of the 2365.7 price range and test again to enter a Buy order.
- If the Breakout price drops below 2284.37, then we wait to test again and enter a Sell order. If that happens, I will update.