XAUUSD 11/9/2024 Is the uptrend over?
Looking at H1 we see that we are currently expecting a purple abc wave structure to complete
- With the target of wave C I identified at the 2525 - 2528 area, this is also our sell target price area
- After the end of the abc correction wave I expect a 5-wave pattern in a downtrend to complete the larger orange correction wave 2.
- At that time, I measured the end target of wave 2 orange at the price zone 2477 - 2474, which is also our BUY target
- There is another case where wave 2 orange has completed at the price zone 2484, when the current trend will be a 5-wave uptrend structure and currently wave 1 in the new trend has a target of 2525 - 2528, then we will wait for the downtrend correction wave 2 to complete at the target of 2501 - 2498 and this is also our BUY target
- I have listed all the possible plans for the current situation and now is today's trading plan
SELL ZONE: 2525 - 2528
SL: 2535
TP1: 2520
TP2: 2508
TP3: 2500
BUY ZONE: 2501 - 2498
SL: 2491
TP1: 2508
TP2: 2520
TP3: 2529
BUY ZONE: 2477- 2474
SL: 2467
TP1: 2487
TP2: 2494
TP3: 2500
Note
Note
Note
Note
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