XAUUSD 18/10/2024 Is the uptrend over?

10月18日

Looking at H1 with the price making a new ATH yesterday this confirms to us that the corrective wave 4 has ended and the price is currently in red wave 5
- Looking at the smaller wave level we are seeing that in red wave 5 the structure of wave 1 and wave 2 is being formed and the price breaking through the top of wave 1 proves that the price has confirmed that the corrective wave 2 has ended and it is currently wave 3
- In wave 3 the uptrend is the main trend for us to place orders
- The price zones that return based on Volumeprofile I have identified 3 price zones in which the price zone 2696 - 2693 and the price zone 2669 - 2666 are the important price zones we pay attention to
- For the Sell zone we expect the first target of wave 3 at the price zone 2736 - 2739 which is the sell target price zone
Trading plan
BUY ZONE: 2696 - 2693
SL: 2688
TP1: 2709
TP2: 2737

BUY ZONE: 2669 - 2666
SL: 2664
TP1: 2685
TP2: 2695
TP3: 2717

BUY ZONE: 2657 - 2654
SL: 2647
TP1: 2668
TP2: 2685
TP3: 2694

SELL ZONE: 2736 - 2739
SL: 2746
TP1: 2717
TP2: 2697