Reversal Magnet to Key Support: Retracement to Wave 4 in XAUUSD
In this analysis, I'm highlighting a critical support level in XAU/USD, where the price is reversing and being drawn to the Wave 4 region of the previous impulse wave, according to the Elliott Wave Principle (EWP). This level often acts as a strong support zone, making it a key area to monitor.
On higher timeframes, there is a possibility of a Head and Shoulders pattern forming, which would further confirm the likelihood of a reversal at this key level. Traders should watch this area closely for signs of bearish continuation patterns or additional confirmation signals.
On higher timeframes, there is a possibility of a Head and Shoulders pattern forming, which would further confirm the likelihood of a reversal at this key level. Traders should watch this area closely for signs of bearish continuation patterns or additional confirmation signals.
Trade active
On sidewaysTrade closed: stop reached
Bullish Trend Continued
Tanakorn Koomrampai ,CMT, CFTe
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
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.
Tanakorn Koomrampai ,CMT, CFTe
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
FB page (International) : facebook.com/graphtechniq
FB page (Thai) : facebook.com/graphtechnic
Line @graphtechnic
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.