Gold's Uptrend Nearing Key Reversal Zone—Time to Sell?
Gold(
XAUUSD) is creating a new All-Time High(ATH) during these few days; finally, how far can gold continue this upward trend? What do you think?
Educational Note: From the point of view of Technical Analysis, when the asset is forming an All-Time High(ATH) and the previous history of the price is not around the price, the analysis becomes a little difficult, but we must be able to make the best use of the technical analysis tool.
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Gold is entering the Potential Reversal Zone(PRZ)[$2,872-$2,845]. Also, Gold is facing a Series of Resistance lines that can stop its increase.
From the point of view of Classical Technical Analysis, it seems that Gold is in the Ascending Broadening Wedge Pattern formation. Do you agree!?
Educational Note: An Ascending Broadening Wedge is a bearish technical pattern characterized by higher highs and higher lows that expand over time. It signals increasing volatility and weakening bullish momentum, often leading to a breakdown below support. Traders watch for a confirmed breakdown as a short-selling opportunity.
According to the theory of Elliott waves, Gold seems to be completing microwave 5 of the main wave 5.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
I expect Gold to start falling after entering the PRZ and at least to the lower line of the wedge pattern and Support zone($2,800-$2,787).
Note: If Gold breaks the Resistance lines and goes above $2,873, we should expect Gold to increase further.
Be sure to follow the updated ideas.
Gold Analyze ( XAUUSD ), 1-hour 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 creating a new All-Time High(ATH) during these few days; finally, how far can gold continue this upward trend? What do you think?Educational Note: From the point of view of Technical Analysis, when the asset is forming an All-Time High(ATH) and the previous history of the price is not around the price, the analysis becomes a little difficult, but we must be able to make the best use of the technical analysis tool.
----------------------------------------------------
Gold is entering the Potential Reversal Zone(PRZ)[$2,872-$2,845]. Also, Gold is facing a Series of Resistance lines that can stop its increase.
From the point of view of Classical Technical Analysis, it seems that Gold is in the Ascending Broadening Wedge Pattern formation. Do you agree!?
Educational Note: An Ascending Broadening Wedge is a bearish technical pattern characterized by higher highs and higher lows that expand over time. It signals increasing volatility and weakening bullish momentum, often leading to a breakdown below support. Traders watch for a confirmed breakdown as a short-selling opportunity.
According to the theory of Elliott waves, Gold seems to be completing microwave 5 of the main wave 5.
Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.
I expect Gold to start falling after entering the PRZ and at least to the lower line of the wedge pattern and Support zone($2,800-$2,787).
Note: If Gold breaks the Resistance lines and goes above $2,873, we should expect Gold to increase further.
Be sure to follow the updated ideas.
Gold Analyze ( XAUUSD ), 1-hour 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
Gold seems to have succeeded in forming the Three Falling Peak Pattern after breaking the Uptrend line.
Three Falling Peak Pattern: The Three Falling Peaks is a bearish reversal pattern where the price forms three consecutive lower highs, indicating weakening buying pressure. A breakdown below the support level confirms the pattern, signaling a potential downtrend.
I expect gold to go down to at least the lower line of the Ascending Broadening Wedge Pattern.
New Potential Reversal Zone(PRZ): $2,892-$2,871
Trade closed: stop reached
$2,872 was very important for me, we should try to follow the market immediately.
Stop Loss is our friend.
Note
Target Done exactly==Long Position
Now, Bearish, I am bearish again.
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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
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.