XAUUSD: about to start the third decline
Updated
From the daily chart of gold:
We can find that the daily chart 2015-2000 has very strong support here, and the ma10-20-30 moving average support is here, so it is very difficult to break below 2015-2000 in the short term.
Therefore, I do not recommend that you go chasing short positions. Don’t lose control when you see the fall from 2048 to around 2020. You must know that all short positions will be closed with profits in 2020-2025
From a 15-minute short-term perspective:
Obviously, gold is a downtrend of a wave of abc, but the trend of abc may be converted into a downtrend of five waves.
At present, the bottom of the upper wave is at 2033-2030. As long as the next rebound does not break through 2035, there will be a fifth wave of decline later.
I also drew 123 in the picture to find the target position of waves 4 and 5 to be 100% here in 2015.
It is also in line with the daily line suppression point 2015 I mentioned earlier.
Therefore, next we can focus on 2030-33. As long as we are not stable at 2035, we can go short in 2030-33. The target below is around 2015.
We can find that the daily chart 2015-2000 has very strong support here, and the ma10-20-30 moving average support is here, so it is very difficult to break below 2015-2000 in the short term.
Therefore, I do not recommend that you go chasing short positions. Don’t lose control when you see the fall from 2048 to around 2020. You must know that all short positions will be closed with profits in 2020-2025
From a 15-minute short-term perspective:
Obviously, gold is a downtrend of a wave of abc, but the trend of abc may be converted into a downtrend of five waves.
At present, the bottom of the upper wave is at 2033-2030. As long as the next rebound does not break through 2035, there will be a fifth wave of decline later.
I also drew 123 in the picture to find the target position of waves 4 and 5 to be 100% here in 2015.
It is also in line with the daily line suppression point 2015 I mentioned earlier.
Therefore, next we can focus on 2030-33. As long as we are not stable at 2035, we can go short in 2030-33. The target below is around 2015.
Trade active
XAUUSD:Sell NowTrade active
Successfully reached the 2033-2035 interval, SellTrade active
Trade active
Trade active
Lead VIP members to win today's first profitable order
Trade active
Trade active
Trade active
Trade closed: target reached
Trade active
Trade active
Trade active
Trade active
Trade active
Trade active
Trade active
Trade active
Trade active
👊Join the free Telegram group:
t.me/Reliable_Trading0
🏆Send us a message to get VIP signals:
t.me/Reliable_Trading1
t.me/Reliable_Trading0
🏆Send us a message to get VIP signals:
t.me/Reliable_Trading1
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.