Gold Analysis ==>>Expanding Triangle Pattern!!!
Updated
Gold(
XAUUSD)is entering the Resistance zone($2,667-$2,653).
From the point of view of Classical Technical Analysis, Gold seems to be moving in the Expanding Triangle Pattern during the last 3 days.
In terms of Elliott wave theory, Gold appears to be completing a Zigzag Correction(ABC). (Wave B(WXY) was complicated).
Also, Regular Divergence(RD-) between Consecutive Peaks.
I expect Gold to drop to at least $2,642, and if the Support lines(1,2) break, the Heavy Support zone($2,642-$2,620) can also break.
⚠️Note: You can enter a Short position by considering capital management after finding a trigger near the resistance lines or after breaking the Support zone($2,652-$2,648).⚠️
⚠️Note: However, the next few hours(6:45 pm UTC) of Fed Chair Powell's Speech will greatly impact the Gold trend.⚠️
⚠️Note: If the Resistance lines(upper line of triangle) and the Resistance zone($2,667-$2,653) are broken, we should wait for the Gold pump.⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put 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.
XAUUSD)is entering the Resistance zone($2,667-$2,653).From the point of view of Classical Technical Analysis, Gold seems to be moving in the Expanding Triangle Pattern during the last 3 days.
In terms of Elliott wave theory, Gold appears to be completing a Zigzag Correction(ABC). (Wave B(WXY) was complicated).
Also, Regular Divergence(RD-) between Consecutive Peaks.
I expect Gold to drop to at least $2,642, and if the Support lines(1,2) break, the Heavy Support zone($2,642-$2,620) can also break.
⚠️Note: You can enter a Short position by considering capital management after finding a trigger near the resistance lines or after breaking the Support zone($2,652-$2,648).⚠️
⚠️Note: However, the next few hours(6:45 pm UTC) of Fed Chair Powell's Speech will greatly impact the Gold trend.⚠️
⚠️Note: If the Resistance lines(upper line of triangle) and the Resistance zone($2,667-$2,653) are broken, we should wait for the Gold pump.⚠️
🔔Be sure to follow the updated ideas.🔔
Gold Analyze ( XAUUSD ), 15-minute time frame ⏰.
Do not forget to put 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.
Trade active
Trade was activated after breaking the Support zone($2,652-$2,648).Trade closed: target reached
First Target Done, you can keep your position and RISK-FREE for breaking the Heavy Support zone($2,642-$2,620) and earn more profit. (Possible)
If the support lines (2) are broken, we can expect to break the Heavy Support zone($2,642-$2,620).
👑Real & Accurcy Free & VIP Signals👉 t.me/ProTrader_365
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
📚Contact & Learning Technical Analysis 👉t.me/Ad_ProTrader365
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.