Gold is Pulling Back to Support lines & PRZ – Another Rally!?

14 Mac

As I expected in my previous post, Gold(XAUUSD) finally touched Potential Reversal Zone(PRZ)[$3,018-$3,000](of course with a lot of volatility).

From Elliott Wave theory, Gold appears to have completed the main wave 3 and is currently completing the main wave 4. The main wave 4 is likely to end near the Support lines and Potential Reversal Zone(PRZ)[$2,967-$2,955].

I expect Gold to attack Potential Reversal Zone(PRZ)[$3,018-$3,000] at least once more after completing the main wave 4.

Can Gold make a new All-Time High(ATH) or Correction?

Note: There is also a possibility that the main wave 5 is a truncated wave because in PRZ we have the $3,000 round number.

Note: If Gold falls below $2,940, we can expect further declines.

Gold Analyze ( XAUUSD ), 1-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

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19 Mac

Pesanan dibatalkan

The position did not touch the Potential Reversal Zone(PRZ)[$2,967-$2,955], but GOLD increased as I expected, but this position was canceled, I stick to my entry and exit points.