XAU/USD: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 2233.33 |
| Take Profit | 2250.00, 2305.00 |
| Stop Loss | 2227.80 |
| Key Levels | 1984.10, 2065.30, 2155.08, 2250.00, 2305.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 2155.05 |
| Take Profit | 2065.30, 1984.10 |
| Stop Loss | 2184.95 |
| Key Levels | 1984.10, 2065.30, 2155.08, 2250.00, 2305.00 |
Growth is possible.
On the daily chart, the fifth wave of the higher level (5) of 3 develops, within which the wave 1 of (5) formed, a downward correction ended as the second wave 2 of (5), and the third wave 3 of (5) develops. Now, the first wave of the lower level i of 3 is developing, within which the wave (v) of i is forming. If the assumption is correct, the XAU/USD pair will grow to the area of 2250.00–2305.00. In this scenario, critical stop loss level is 2155.08.
Main scenario
Long positions will become relevant above the level of 2155.08 with the targets at 2250.00–2305.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 2155.08 will let the asset go down to the area of 2065.30–1984.10.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.