XAUUSD (Gold) | Strong Sell | Elliot Wave | Bearish | H4
Updated
SELL GOLD!
I have already published my idea for Selling Gold about 2 weeks back (tradingview.com/chart/XAUUSD/ofiqp7WO-XAUUSD-Gold-Bearish-H4-Strong-Sell-Elliot-Wave/)
When I posted my previous idea for sell, the B wave had not been completed but now B wave has completed and downward C wave has started and there is a very strong resistance towards upside at the 1790 level from where Gold has been rejected 2 to 3 times now. Seems like an expanded flat and if it is then it will hopefully break the last low of 1670. MACD also suggests downward move now! Gold has started dropping for a downward rally. Be prepared and take your positions if you haven't already.
You can SELL GOLD around 1775 -1785 area
STOP LOSS - 1801
Target TP 1 - 1749
Target TP 2 - 1720
Target TP 3 - 1645
Best of Luck! :)
SWING TRADE!
This is just an analysis and may be wrong. Trade cautiously with Stop Loss and use minimum risk/lot size!
I have already published my idea for Selling Gold about 2 weeks back (tradingview.com/chart/XAUUSD/ofiqp7WO-XAUUSD-Gold-Bearish-H4-Strong-Sell-Elliot-Wave/)
When I posted my previous idea for sell, the B wave had not been completed but now B wave has completed and downward C wave has started and there is a very strong resistance towards upside at the 1790 level from where Gold has been rejected 2 to 3 times now. Seems like an expanded flat and if it is then it will hopefully break the last low of 1670. MACD also suggests downward move now! Gold has started dropping for a downward rally. Be prepared and take your positions if you haven't already.
You can SELL GOLD around 1775 -1785 area
STOP LOSS - 1801
Target TP 1 - 1749
Target TP 2 - 1720
Target TP 3 - 1645
Best of Luck! :)
SWING TRADE!
This is just an analysis and may be wrong. Trade cautiously with Stop Loss and use minimum risk/lot size!
Trade active
1790s can be a good area to sell or average your trade. Gold went back up a little but it will drop eventually.
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.