Gold Update - wave 5-circle down in the wave 3 Down
I am in short for get profit from wave ⑤ down. will update later
Trade active
I am in short at 2694.
Key Levels: 2,700 (resistance), 2,678-2,688 (support).
Indicators to Watch: Price action around the 50 EMA, volume activity in the 2,670-2,688 zone.
And potential breakout above 2,700 > for stoploss.
Note
EMA 100 Test:
The price has pulled back to test the 100 EMA (in blue), which has previously acted as dynamic support.
The high volume on this touch suggests that participants are actively engaging at this level, possibly indicating accumulation or an area where buyers are stepping in.
If the 100 EMA fails to hold and price closes below it, we could see a retracement to the 2,678-2,670 support area.
Note
I am going to take a napTrade closed: stop reached
Stoploss at 2700 will update at another chart with updated elliottwave
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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.