Current Price: ~3,334 USD
• Expected Move: Short-term rise to 3,380–3,390, then a strong drop.
Reasoning:
• Completing an Elliott Wave triangle (E wave) at resistance.
• Harmonic pattern (Gartley/Bat) aligns with this reversal zone.
• Resistance lies within a descending channel.
• Bearish Target: ~3,050–3,030
• Trade Setup: Consider shorting near 3,380–3,390 with stops above 3,400.
GOLD Note
Please note this to consider that the fourth wave lies on the range of 3260-3280 so the market may bounce back to the previous law before making the strong fall.
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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.