Reversal Magnet to Key Support: Retracement to Wave 4 in XAUUSD

In this analysis, I'm highlighting a critical support level in XAU/USD, where the price is reversing and being drawn to the Wave 4 region of the previous impulse wave, according to the Elliott Wave Principle (EWP). This level often acts as a strong support zone, making it a key area to monitor.
On higher timeframes, there is a possibility of a Head and Shoulders pattern forming, which would further confirm the likelihood of a reversal at this key level. Traders should watch this area closely for signs of bearish continuation patterns or additional confirmation signals.
On higher timeframes, there is a possibility of a Head and Shoulders pattern forming, which would further confirm the likelihood of a reversal at this key level. Traders should watch this area closely for signs of bearish continuation patterns or additional confirmation signals.
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Bullish Trend ContinuedTanakorn Koomrampai ,CMT, CFTe
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FB page (International) : facebook.com/graphtechniq
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Line @graphtechnic
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Tanakorn Koomrampai ,CMT, CFTe
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.