SteveTan

SteveTan

XAUUSD having deep correction after "lower" CPI report as sentiment shift to only 0.25 base cut on next week.. which is not "catalytic" enough of for gold's substantial continuous uptrend as gold almost priced in all rate cut expectations now just waiting the amounts and frequent of base cut by THE FED.

SteveTan

XAUUSD possible forming a leading diagonal pattern = meant hitting ATH again @ 2568 +/- Which is the 1) monthly Pivot / R1 lvl 2) The Upper Resistance Line (red) of the pattern. Long @ 2498 which is 1) The lower Support Line (blue) of the pattern 2) Voulme Profile POC..

SteveTan

XAUUSD still inside 2530 - 2470 ( $60 ) range. While it need 100 Bucks to fuel the bulls. From 2460 toward 2560 or 2600?

SteveTan

XAUUSD probably resuming its intraday day uptrend approaching major resistance again at 2530 +- . Grabbing more buyer's "liquidity" before "smashing" its price below 2500 ( 2460 +/).

SteveTan

XAUUSD is still forming a complex double three wxy (blue circled ) wave pattern. Expecting more stop hunting occurred. Control our own risk as for any buy/sell orders as there is no confirmation for any swing low/high yet level.

SteveTan

XAUUSD's volume profile shape shown as "P" shape which typically interpreted as seller in control state.. PLUS Its price currently at trendline / supply / resistance zone

SteveTan

XAUUSD. Based on latest development of lower time frame wave structure, previous bearish triangle (a)(b)(c)((d)(e)(yellow) probably still working = The Bottom of gold could only happened at 2450 +/-

SteveTan

XAUUSD possible completed its expanding wave (a)(b)(c)(yellow) pattern. P/s We have to be "flexible" and "change" our view not just from e.g T.A / Eliott wave perspective from previous Triangle ideas as it was "invalidated" by "evolving" price as time passed.

SteveTan

XAUUSD indeed was forming a ascending triangle but it's a bearish type. The Target of bearish triangle breakout would be at 2465 +/- before resuming uptrend toward ATH at 2555

SteveTan

XAUUSD Instead of previous ascending triangle ideas gold have compress more its price and evolved into contracting triangle pattern .before exploding to the upside..

SteveTan

XAUUD back to previous skewed triangle (A)(B)(C)(D)(E)(green) idea again. Long gold at 2510 +/- at wave (c)(yellow) of triangle,,, where 2510 +/- is a confluence zone of : 1) Trend Line 2) POC of Volume Profile

SteveTan

XAUUSD probably having very deep correction now toward 2400 within few days. ? And What is the cause of?...The Monster of All Stocks? = Nvidia earnings report? After today Market Closed?

SteveTan

XAUUSD back to previous skewed triangle idea with price targeting ATH at 2450 before heavy selloff toward 2400 +/-.

SteveTan

XAUUSD probably ranging within 2523 - 2465 building a base before a drop/breakout to the down side with risk of trending down toward 2400 +/-.

SteveTan

XAUUSD probably forming an expanding flat ABC (Red) pattern in wave (C)(green) of triangle, Where it will probably "trap" both side of seller/byer.

SteveTan

SPX500 will reach ATH again? Maybe today US Unemployment Claims data will give us an answer? Although US government have "announced" that don't be "shocked/shorted" as this time "the calculation" of US Unemployment Claims is "difference" than before..

SteveTan

XAUUSD's price probably will be "shocked" by today US Unemployment Claims, Even US gave early "warning".. Reasons why short at 2520 +/-.? 1) That is equally High Liquidity 2) Trend Line Breakout Liquidity for market maker/stop loss hunter to "grab" $$$...3) AND a fair value gap @ 2520+/-.

SteveTan

XUUSD probably will be ranging within 2350 - 2510 while waiting "confirmation" of FED rate cut decision on mid of sept. Before a breakout to ATH at 2650 -2700.