XAUUSD: About to start falling again
Updated
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From the hourly chart:
At present, the bottom of wave a is in the 2030-40 range, and the bottom of wave c is Friday’s low of 2000. According to the analysis of wave theory, the trend of rebounding from 2000 is the fourth wave. The fourth wave cannot exceed the bottom of the first wave. That is 2030-40 here.
Therefore, the position that needs to be paid attention to next is 2030-40, which means that gold will test the suppression point of 2030-40 with a high probability in the future.
As long as 2030-40 is not broken, then there will be a fifth wave of downward trend, and it will be a matter of time before 2000 is broken.
Unless gold stands above 2040 again, the short-term short-selling trend will not change.
From the hourly chart:
At present, the bottom of wave a is in the 2030-40 range, and the bottom of wave c is Friday’s low of 2000. According to the analysis of wave theory, the trend of rebounding from 2000 is the fourth wave. The fourth wave cannot exceed the bottom of the first wave. That is 2030-40 here.
Therefore, the position that needs to be paid attention to next is 2030-40, which means that gold will test the suppression point of 2030-40 with a high probability in the future.
As long as 2030-40 is not broken, then there will be a fifth wave of downward trend, and it will be a matter of time before 2000 is broken.
Unless gold stands above 2040 again, the short-term short-selling trend will not change.
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The strategy remains unchanged today, continue to sell in the 2030-2040 rangeTrade active
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Trade closed: target reached
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