After a strong bullish rally, gold has entered a large price-time corrective phase from the point marked with the red arrow on the chart.
Currently, this correction appears to be forming a diametric pattern on the chart. It seems that we are now in wave E of this structure, meaning the bearish move could continue toward lower levels.
The wave E targets are marked on the chart.
If a pullback occurs to the red zone, positions can be entered using DCA or after receiving confirmation.
A daily candle close above the invalidation level will invalidate this analysis.
If you have a symbol you want analyzed, first hit the like button and then comment its name so I can review it for you.
Do you also think XAUUSD is bearish?
Currently, this correction appears to be forming a diametric pattern on the chart. It seems that we are now in wave E of this structure, meaning the bearish move could continue toward lower levels.
The wave E targets are marked on the chart.
If a pullback occurs to the red zone, positions can be entered using DCA or after receiving confirmation.
A daily candle close above the invalidation level will invalidate this analysis.
If you have a symbol you want analyzed, first hit the like button and then comment its name so I can review it for you.
Do you also think XAUUSD is bearish?
Zlecenie aktywne
Gold price dropped more than 5% after hitting the supply zone, and the first target has been reached.
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✅ Join our Telegram channel to succeed in crypto trading.
💎Our CRYPTO Telegram Channel: 👉 t.me/Behdark_EN
💎Our FOREX Telegram Channel: 👉 t.me/FX_Behdark
💎Our CRYPTO Telegram Channel: 👉 t.me/Behdark_EN
💎Our FOREX Telegram Channel: 👉 t.me/FX_Behdark
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.