XAUUSD 14/10/2024 price and will continue to increase?

14 Okt

Looking at H1, we see that the price has just completed a 5-wave structure 1 2 3 4 5 as I have labeled on the chart
- Following a 5-wave structure will be a 3-wave correction structure
- Looking at the current price line, I see that the price has likely completed wave A in the ABC structure and is currently completing wave B
- The target for completing wave B is the price zone of 2654 - 2657, which could be a very good SELL target price zone
- If the price breaks through the price zone of 2661, it will confirm that our current wave-down process is not correct, and then we will have an extended wave 3 structure and the peak of wave 3 will coincide with the current wave 5. then we will have the target price zone 2670 - 2673 is the target price zone for the correction
- Regarding the target of the end of the correction wave, I measured 2 target price zones, which are the zone 2632 - 2629 and the price zone 2613 - 2610, this is the target price for the end of the correction wave
- we have an important price zone 2606, if the price breaks below this zone, it confirms that the uptrend has not started yet and the price continues the correction process, then I will have the correction targets

Intraday trading plan
SELL ZONE: 2670 - 2673
SL: 2680
TP1: 2662
TP2: 2653
TP3: 2637

BUY ZONE: 2632 - 2629
SL: 2627
TP1: 2653
TP2: 2661
TP3: 2670

BUY ZONE 2613 - 2610
SL: 2603
TP1: 2624
TP2: 2637
TP3: 2661