Do you remember the XAUUSD Wave Analysis?
Click Here: XAUUSD Outlook – Thrust of the Triangle
BEFORE
I have written clearly, “Potential targets for this setup are 2368 – 2395 – 2444.7+.”
AFTER
XAUUSD – Trading Insights & Update
Do you remember the XAUUSD Wave Analysis?
Click Here: XAUUSD Outlook – Thrust of the Triangle
BEFORE
I have written clearly, “Potential targets for this setup are 2368 – 2395 – 2444+7.”
AFTER
XAUUSD Outlook – Thrust of the Triangle
Gold’s Next Bull Leg In Progress
Bull Gateway: 1852 Gold has created three consecutive positive bars in the last 25 trading sessions (36 days) for the first time. And it’s above 200 MA. That’s a good sign for buyers! If gold breaks the parallel channel, my upside targets Continue reading
Will Gold (XAUUSD) Reach $2050 Before December 2022?
XAUUSD is forming a triangle on the wave ((4)).
This correction has taken more than 17 months, but the triangle is not over yet. Price has completed wave D of the 4th wave triangle, and wave E of wave A is in progress.
After completing the wave sub-wave A, the price will start wave B & then wave C.
The ending point of wave E is the starting point of the impulsive cycle.
Calculation of wave E:
Wave E can end 100% of wave sub-wave A at 1726.
Wave E can end near previous sub-wave B at 1719
Wave E can end at 100% of wave D at 1704.
Traders can wait for the breakout of the B-D trend line. Note that if the price doesn’t break the B-D channel, sideways will be continued.
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Gold Spot (XAUUSD) Time for Consolidation & Lower Volatility
Click on the chart to enlarge
See the above chart wherein I have used the Gann Angles as support & resistance. As per the rules of All Angles, when the stock price breaks an Angle, it will rotate to the next Angle. Gold Spot is under a downtrend until the breakout of 8/1.
But that’s all about the long-term view. If you see the above Gold Spot’s hourly chart, there are two supports. And if XAUUSD repeats the game of excess & tail, then the downtrend will begin.
Hence, be ready for the levels of $1752 – $1726 – $1680 below.
Gold Spot can hold the downtrend by staying above 4/1. If it happens, then we will see $1830 – $1860 – $1900+ levels.
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