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Trendanalyisis

XAUUSD July 17, 2024 Will the rising wave continue? The information we received is that Mr. Trump's brother is officially named as the Republican candidate. The fact that Mr. Trump is a bright candidate for the United States is creating conditions for XAU to increase in price because of its policies. In the past, he advocated for reducing interest rates to focus on economic growth. The information released from the Fed in recent days shows dovishness with announcements that curbing inflation is very effective as well as statements from Fed Chairman Powell also making dovish comments. . This also makes the expectation that interest rate cuts will happen sooner. Looking at H1, we see that yesterday there was a strong increase, which shows that we are having wave 5 extension. We are measuring wave 5 and currently have two important target price areas to observe: the 2481.6 area and the 2500 round resistance area. - At this time we should limit buying because the price is at the peak of the price force. Looking at the RSI, we see that the price momentum is weakening, while the price is still increasing, this signals that the current uptrend has ended. weakening force increased insignificantly - We have target price zones to find selling points at 2481.6 and 2500. - We expect the price to have a slight correction and then create a new peak near the 2500 area and the RSI peak will then diverge, which will be a nice sell trade setup. We continue to observe the price in this area to find a Sell down point. - In the immediate future, we have a target area for the downward correction wave at the price range of 2438.6. When there is more data about the dark price, this target area will be updated
OANDA:XAUUSDShort
by DEEKOP
XAUUSD trading plan for week 1, July 2024Looking at D1, we see that the adjustment process has reached the end of the period - Unlike impulse waves, corrective waves take a long time and often have complex patterns that are difficult to predict. - Looking at the current model, I am leaning towards the complex triangle correction model with ABCDE structure in Elliot - The beauty of Elliot is that there are price levels that confirm whether we are moving in the right direction. - We have 2 prices that confirm our wave counting + If the price level 2284.37 is broken below then our current assumption is no longer correct then our previous assumption that the ABC correction model I mentioned last week will apply + If the price level of 2365.7 is broken, the triangle correction model we are predicting will be confirmed. - So our plan is to wait for the price to break out of the 2365.7 price range and test again to enter a Buy order. - If the Breakout price drops below 2284.37, then we wait to test again and enter a Sell order. If that happens, I will update.
OANDA:XAUUSDLong
by DEEKOP
How will XAUUSD fluctuate after Trump's case? The failed assassination of presidential candidate Trump increasingly increased his odds of winning the election as well as helping the Republican party hold a large number of seats in the parliament. If the Republican Party prevails in the election, This will promote a reduction in USD interest rates. This is also the reason why XAU has increased in recent days. Looking at H1: - The purple 5-wave structure has been completed. This could be the wave 1 structure in a larger wave. and so next will be the corrective wave structure - Like I said before, corrective waves often take a long time and move complicatedly, we need a lot of follow-up data to shape the corrective structure. - But for simplicity we can expect a simple ABC structure to observe - Then we temporarily have the target area for corrective wave C at 2 price areas: 2367.7 and 2349.3. - The current plan is that we can sell at the price range of 2429 to the price range of 2440 and set the SL at the top of 2440.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD July 9, 2024 potential buying point?Looking at h1 yesterday, we continued to successfully predict the direction of price movement - Currently, the price is approaching the target area of ​​wave C. As I said yesterday, we need data from waves A and B to be completed to determine the target of wave C. - Currently, I measure the target of wave C located at 2 price areas 2355 and 2346 price areas. These 2 price items form a narrow area where we can enter a Buy order at this price area. - If the price breaks through 2339, our current wave counting process is no longer correct, then I will update you again.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 8, 2024 Will the rising wave continue? Nonfarm news last weekend with lower employment data than the previous period caused gold to have a strong increase in price to 2392.2, this price increase may need to continue a correction of wave 4 before completing wave 5. final increase. Looking at H1 we see Black wave 5 has exceeded our measured target and approached the 2392 area. - So the next 5 waves are a correction. The corrective wave is a complex wave that is difficult to specifically identify, but we still take the ABC corrective wave as the standard for price observation. The specific target of this corrective wave needs to be observed at least as waves A and B complete to be accurate, but from the current data I measure the target of the corrective wave ending at the price range 2363 or 2355. These are the two price zones I expect to continue buying. We will continue to observe price behavior during the correction wave to more accurately determine the target price zones of the correction wave.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 5, 2024 waiting for a reasonable buy point Yesterday was Bank Holiday, so low market liquidity led to gold prices sideways in a narrow fluctuation range. The price targets have not changed from the previous plan, the only difference is that the price has touched the demand zone that we have identified and turned up. This suggests that wave 4 may have completed and The price will continue to increase, completing wave 5 - Today there is news about Nonfarm, if the price continues to compress within this narrow range, then after the news it is possible that the price will complete the wave 5 target and then enter a correction. If the price reaches the target of wave 5 before the news is released, then after the news is released, the price will have a downward correction. - The target price range that I want to buy is the price range 2339 to 2342. This is the expected price adjustment range after wave 5 completes.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 4, 2024 will the price still decrease?We expected a shakeout to enter the line but the price did not create this spring and completed the Flat correction pattern with wave c equal to wave a. Then the price increased sharply to the 2365 area - The completion of wave c means that wave 2 has also completed. Now the price enters wave 3 - The target of wave 3 is at least fibo 1.618% of purple wave 1, so we have the minimum expectation at the price range of 2395 - Looking at the smaller black trend, the price has gone through 4 waves 1234 and we wait for wave 5 to complete and then the price will have a correction before continuing to increase. - My suggested buying zone is the price range 2342 - 2340, which is the expected target of the completed major correction.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 3, 2024 will the price continue to increase? Looking at H1, we see that the price continues to sideways in a tradingrank. As I said, this is a correction wave. During the adjustment process, the price will move very complicatedly. - Looking at H1, we see that the price creates gradually lower peaks and especially the demand zone created by the bottom of wave 4 at the price range 2319 has been approached many times and we see that each subsequent approach the price does not rebound strongly, creating new higher peak. This is a sign that this area is likely to be breached - Our plan is to wait if the price reaches the target range at 2311 to 2304 to find a Buy order.
OANDA:XAUUSDLong
by DEEKOP
XAUUSD July 2, 2024 will the price continue to increase?Looking at H1, we see that the price is having a recovery to the 2334 area. Looking at the recovery candles, we see that these are short-bodied candles, which proves that the price momentum is weak and will not make the price go far. Okay - Looking at the overall price correction, the price is in a Flat correction model. With this model, we continue to expect the price to complete wave C before continuing. We continue to wait for the price to touch the target of wave C at the price range 2311 to 2304 to enter a Buy order.
OANDA:XAUUSDLong
by DEEKOP
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XAUUSD July 1, 2024 Has the uptrend begun? Last week we saw that from H1, the price completed a 5-wave pattern. According to the Elliot principle, this could be wave A or impulse wave 1 - Whether it is a wave A pattern or a complete wave 1 pattern, the 5-wave pattern is always followed by a correction wave - We expect the abc corrective wave pattern to find a trading setup when wave c completes - As shown on h1, we see that the correction pattern is in wave b phase and after wave b completes, we will determine the target of wave c to decide to enter the order. - Looking at h1, we see that the demand zone created by the bottom of wave 4 has been approached many times so this zone has been weakened and there is a high possibility of being breached, this reinforces for us that the bearish wave C will form. From the current data, we can temporarily measure the target of wave C at two price zones: 2311 and 2304. From the target area of ​​wave C we can find buy orders - In case the price breaks through the 2294 zone, our wave counting process is no longer correct, then I will update the new wave counting settings. - Area 2294 is also a good Stoploss area for our buy order
OANDA:XAUUSDLong
by DEEKOP
XAUUSD June 28, 2024 Where will the price increase go? Yesterday we had a price increase in the 2295 area. As I said, if in this zone the price increases beyond 2316.8, we have to count the waves again - We are still in a downtrend and this increase is just a recovery - The new wave counting process is denoted as on the graph. The price decline ended at 2295, wave 5 has completed and next we have the ABC correction process. - Wave A is a 5-wave pattern and currently we see the price is in the wave 4 target area. - Next we have the price will continue to complete wave 5 to complete wave A - So with the Buy settings we can set the appropriate TP, you can gradually increase the SL to avoid losing profits. - We have 2 price zones to complete the wave A target: 2332.9 and 2341.4, these are two potential price zones for the current price increase.
OANDA:XAUUSDShort
by DEEKOP
XAUUSD on June 27, 2024, the final decline? The price has approached the 2295 zone and is currently recovering very weakly in this zone. - There is a high possibility that the price will continue to break this zone and drop to the 2287 zone. + At area 2287, if the price breaks out below this area, the price will continue to complete the target of wave 5 at price area 2256 or 2210. + If the price continues to rebound and surpass the 2315 price range, then we can say that the correction has not ended and the current price is still in a complex correction, then we have to count the waves again ( I will update if this situation happens) - At this price range, we should only observe or play Scalping because we have two price resistance zones that are quite close to each other, the 2295 zone and the 2287 zone.
OANDA:XAUUSDShort
by DEEKOP