Gold Recovery Setup = Divergence + Support Cluster

25 Jul

Gold(XAUUSD) fell to the lower line of the ascending channel and the Support zone($3,350-$3,326), as I expected in my previous idea.

Gold is currently near a set of Supports.

Supports:

*Support zone: $3,350-$3,326

*Monthly Pivot Point: $3,333

*Potential Reversal Zone(PRZ): $3,339-$3,329

*Lower line of the ascending Channel

*50_EMA(Daily)

*Support lines

In terms of Elliott Wave theory, Gold appears to be completing a bearish wave 5.

Also, we can see the Regular Divergence(RD+) between Consecutive Valleys.

I expect Gold to rise to at least $3,359.

Second target: $3,367

Note: Stop Loss (SL) = $3,319

Do you think Gold can break the Support cluster by the end of trading hours?

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.

Please do not forget the ✅ 'like' ✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

26 Jul

Dagangan aktif

Trade was activated in Potential Reversal Zone(PRZ): $3,339-$3,329

28 Jul

Dagangan ditutup: hentian tercapai

Stop Loss was touched = $3,319