XAUUSD - Price Forecast
Hello everyone,
Gold is progressing along in line with the previous idea illustrated (see link).
We saw the 1820 price level get flipped into resistance. As expected, this provided the platform for a further move to the downside to test the 1765 swing low which was taken out earlier this morning.
There is a possibility that we see a move up towards the 1800-1820 level today before market close but I think it is more probable that bears will successfully keep the price around current levels for the weekly close.
I'm looking for bearish continuation into next week with a lower low within the 1670-1720 zone now very much in sight. As mentioned previously, this is also where I think we could see the Wave 4 correction completing.
Who's Elliott?
The primary wave count is still the same, no changes on that front. Please see the linked ideas below for the wave count.
Once again, staying aware of some of the possibilities. Let’s see how it plays out today and into the forthcoming week.
Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed.
Thank you for taking the time. Trade Safe!
Beyond Edge
Disclaimer
This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
You should do your own research and analysis before making any investment decisions. Do not trade or speculate based on the information provided in this idea.
Trust your own analysis.
Beyond Edge
Gold is progressing along in line with the previous idea illustrated (see link).
We saw the 1820 price level get flipped into resistance. As expected, this provided the platform for a further move to the downside to test the 1765 swing low which was taken out earlier this morning.
There is a possibility that we see a move up towards the 1800-1820 level today before market close but I think it is more probable that bears will successfully keep the price around current levels for the weekly close.
I'm looking for bearish continuation into next week with a lower low within the 1670-1720 zone now very much in sight. As mentioned previously, this is also where I think we could see the Wave 4 correction completing.
Who's Elliott?
The primary wave count is still the same, no changes on that front. Please see the linked ideas below for the wave count.
Once again, staying aware of some of the possibilities. Let’s see how it plays out today and into the forthcoming week.
Follow for further updates. Your 'likes' are much appreciated and your comments are most welcomed.
Thank you for taking the time. Trade Safe!
Beyond Edge
Disclaimer
This is not trading advice. All content/ information shared in this idea is purely educational in nature and is expected to be used for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
You should do your own research and analysis before making any investment decisions. Do not trade or speculate based on the information provided in this idea.
Trust your own analysis.
Beyond Edge
🔰 Not financial advice. For educational purposes only.
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
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.