Bulls and Bears: Weak Volatility in the XAUUSD Market
Good Day,
XAUUSD is ranging around the 2379 area. The trajectory is theoretically bullish according to an Elliot wave count from 2320 to the higher low of 2356.193.
However, this is a high-risk setup due to candle-high pins. There is a risk for the price to spike down and then move up, or move up to 2414 and then turn bearish.
Also, the price can suddenly and strongly move up.
Overall the current price structure is neutral in a bullish trend, best to skip it.
Happy Trading,
K.
XAUUSD is ranging around the 2379 area. The trajectory is theoretically bullish according to an Elliot wave count from 2320 to the higher low of 2356.193.
However, this is a high-risk setup due to candle-high pins. There is a risk for the price to spike down and then move up, or move up to 2414 and then turn bearish.
Also, the price can suddenly and strongly move up.
Overall the current price structure is neutral in a bullish trend, best to skip it.
Happy Trading,
K.
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