Gold’s Bull Trap? Major Reversal Incoming!
As I expected in yesterday's post, Gold(
XAUUSD) started to rise from the Support zone($2,919-$2,905) and bounced exactly on my hypothesized lines, and I hope you were able to profit.
Gold failed to break the Resistance zone($2,948-$2,940). And it appears to have created a Bull Trap.
In terms of the Elliott wave theory, Gold seems to have completed the main wave 5, and one of the signs for me was the Bull Trap.
I expect Gold to fall to at least the Support zone($2,919-$2,905) after breaking the Uptrend lines. (Next targets are also possible).
Note: If Gold can go over the Resistance zone, we can expect more pumps.
Be sure to follow the updated ideas.
Gold Analyze ( XAUUSD ), 30-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) started to rise from the Support zone($2,919-$2,905) and bounced exactly on my hypothesized lines, and I hope you were able to profit.Gold failed to break the Resistance zone($2,948-$2,940). And it appears to have created a Bull Trap.
In terms of the Elliott wave theory, Gold seems to have completed the main wave 5, and one of the signs for me was the Bull Trap.
I expect Gold to fall to at least the Support zone($2,919-$2,905) after breaking the Uptrend lines. (Next targets are also possible).
Note: If Gold can go over the Resistance zone, we can expect more pumps.
Be sure to follow the updated ideas.
Gold Analyze ( XAUUSD ), 30-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 uptrend lines.Trade closed: target reached
First Target Done, if next week Gold goes below 100_SMA(1 hour), we can expect more dumps.
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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.
👑Real & Accurcy Free & VIP Signals👉 t.me/ProTrader_365
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
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.