XAUUSD QoQ TIME FRAME DATE 7/25/2024
Based on the current XAUUSD data, it is evident that the bullish long-term cycle has concluded, rendering long-term buying strategies impractical at this stage. The impulse cycle for leg 5 within leg 1 on the quarterly timeframe has completed, supported by standard deviations and a clear distribution phase.
Additionally, upcoming economic events related to the US economy, particularly the electoral outlook with President Biden out of the race, indicate adjustments likely under a Trump administration through 2024.
Currently, we are observing phase C with UTAD already formed. The target for the sell option is clearly identified on the quarterly cycle, with inducement for leg 4 anticipated below the leg 4 mark-up stage (FVG).
Examining the quarterly cycle reveals a complex correction in leg 2, influencing the broader quarterly cycle dynamics. Triangle patterns are unlikely based on statistical analysis, suggesting a potential WXY or flat correction to the downside for XAUUSD on the quarterly timeframe.
I will focus on dissecting internal cycles to identify optimal entry points with minimal risk parameters. At present, a cautious approach is advisable as we monitor market developments closely
Additionally, upcoming economic events related to the US economy, particularly the electoral outlook with President Biden out of the race, indicate adjustments likely under a Trump administration through 2024.
Currently, we are observing phase C with UTAD already formed. The target for the sell option is clearly identified on the quarterly cycle, with inducement for leg 4 anticipated below the leg 4 mark-up stage (FVG).
Examining the quarterly cycle reveals a complex correction in leg 2, influencing the broader quarterly cycle dynamics. Triangle patterns are unlikely based on statistical analysis, suggesting a potential WXY or flat correction to the downside for XAUUSD on the quarterly timeframe.
I will focus on dissecting internal cycles to identify optimal entry points with minimal risk parameters. At present, a cautious approach is advisable as we monitor market developments closely
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