Gold Finds Supports – Is the Rebound About to Begin?

7 Jul

Gold(XAUUSD) declined to the Support zone($3,312-$3,290) and Support lines as I expected in the previous idea.

Gold is currently trading in the Support zone($3,312-$3,290) and near a set of support lines.

In terms of Elliott Wave theory, it seems that Gold has completed the Zigzag Correction(ABC/5-3-5) and we should wait for the next 5 impulse waves. One of the confirmation signs of the end of these corrective waves could be the break of the resistance line.

I expect Gold to trend higher in the coming hours and rise to at least $3,343 AFTER breaking the Resistance line.

Second Target: $3,364

Note: Stop Loss (SL) = $3,287

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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7 hari lalu

Dagangan aktif

Trade was activated in Support zone($3,312-$3,290)

7 hari lalu

Dagangan ditutup: sasaran tercapai

First Target Done($3,343), if you did not close, you can risk-free your position.