Gold Roadmap!!!
Updated
Gold started to increase after the tension between Lebanon and Israel, and maybe the price of Gold increased more than expected, so that it even went a little higher than the important resistance line, but this increase was in the form of a fake break.
Gold is currently moving towards the Support zone($2,600-$2,580) and breaking the Uptrend line.
According to the Elliott wave theory, Gold seems to have used an Ending Expanding Diagonal to complete the main wave 5. The Ending Expanding Diagonal usually comes at the end of wave 5.
Also, Regular Divergence (RD-) between Consecutive Peaks.
I expect Gold to continue to fall in the coming hours and days after breaking the Uptrend line, at least to the Support line, and I expect this fall to be even more. Of course, the conditions of the Middle East can change the direction of gold movement at any moment.
Gold Analyze ( XAUUSD ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Gold is currently moving towards the Support zone($2,600-$2,580) and breaking the Uptrend line.
According to the Elliott wave theory, Gold seems to have used an Ending Expanding Diagonal to complete the main wave 5. The Ending Expanding Diagonal usually comes at the end of wave 5.
Also, Regular Divergence (RD-) between Consecutive Peaks.
I expect Gold to continue to fall in the coming hours and days after breaking the Uptrend line, at least to the Support line, and I expect this fall to be even more. Of course, the conditions of the Middle East can change the direction of gold movement at any moment.
Gold Analyze ( XAUUSD ), 4-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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