XAUUSD Market Outlook: May-Week II/2022
Updated
The market showing a bearish 4th wave with an indication to form a triangle and I don't see any chance of 5th wave truncation as in the bigger cycle is showing an early stage of A-B-C correction. So this is our chance to make a huge profit this week!
So, my best scenario would be:
Sell on strength at 1894
1st target 1840
Ideal target 1816
Put stop loss slightly above the red line (1922)
Trade closed: target reached
Target reached
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