XAU/USD 12.12.2024
Updated
XAUUSD Hello Traders,
Today, we’re taking a closer look at gold. As expected, gold is moving down in an ABC structure (yellow) within our larger orange wave 4. From here, we can anticipate either a 12345 structure or, if the price moves sideways, another ABC structure leading up to wave 5.
Wave 4 has likely reached its bottom, though there is still a possibility of a further decline to the 61% Fibonacci level. However, I consider this scenario unlikely. Overall, we are once again looking for higher prices in the near future.
Trade closed: stop reached
WE had a bit support but not as expected. New wave coount will be updated soon
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