XAU / USD ( Gold / U.S Dollar ) Technical Analysis Chart Update
Time Frame - H4
According to the Long Time Frame #LTF - Daily it is following the BEARISH CHANNEL Pattern and its about to Reach the Upper Trend Line #UTL
It is also Following ELLIOT WAVES and it has completed its Impulsive wave " 12345 " and now its making its " B " Corrective wave and it can reach 1712 till the Fibonacci Level - 23.60%
In Short Time Frame its Following the IMPULSIVE WAVES now its making Correction " XYZ " then it will again Follow IMPULSIVE WAVES ( Bullish )
Its possible it can reach the Resistance Level ( 1714 - 1723 ) then Reject
Long Term Buy after the Breakout if the Upper Trend Line #UTL and Retest
Time Frame - H4
According to the Long Time Frame #LTF - Daily it is following the BEARISH CHANNEL Pattern and its about to Reach the Upper Trend Line #UTL
It is also Following ELLIOT WAVES and it has completed its Impulsive wave " 12345 " and now its making its " B " Corrective wave and it can reach 1712 till the Fibonacci Level - 23.60%
In Short Time Frame its Following the IMPULSIVE WAVES now its making Correction " XYZ " then it will again Follow IMPULSIVE WAVES ( Bullish )
Its possible it can reach the Resistance Level ( 1714 - 1723 ) then Reject
Long Term Buy after the Breakout if the Upper Trend Line #UTL and Retest