Summary:
a. XAUUSD is running in a corrective wave and already forming an overlapping five wave affairs that subdivide 3-3-3-3-3
c. The last movement of the subdivisions shoiuld reach 1936-1920 area
c. Bullish trade setup invalidation level at 1900
What's up traders?
Here I provide a XAUUSD technical analysis based on my knowledge about Elliott Wave principle.
As we can see XAUUSD is at the last phase to finish its corrective wave and forming the Triangle. In the subminuette degree there's an ABC Correction and current price is already near at the end of the subminuette wave C. The best setup is waiting for a price reversal confirmation at expected end of the last 3 subdivisions and wave C of the subminuette degree that could be occurred at 1920-1936 area.
The area range is quite wide so I decided to calculate the future reversal date, and base on Time Analysis I've found that the price reversal could be occurred between 16-18. So I decided to plan a long setup at that date combined with price reversal pattern.
JOIN OUR TELEGRAM CHANNEL FOR A FURTHER AND DEEPER DISCUSSION: heylink.me/Q-Traders
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. We have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities.
a. XAUUSD is running in a corrective wave and already forming an overlapping five wave affairs that subdivide 3-3-3-3-3
c. The last movement of the subdivisions shoiuld reach 1936-1920 area
c. Bullish trade setup invalidation level at 1900
What's up traders?
Here I provide a XAUUSD technical analysis based on my knowledge about Elliott Wave principle.
As we can see XAUUSD is at the last phase to finish its corrective wave and forming the Triangle. In the subminuette degree there's an ABC Correction and current price is already near at the end of the subminuette wave C. The best setup is waiting for a price reversal confirmation at expected end of the last 3 subdivisions and wave C of the subminuette degree that could be occurred at 1920-1936 area.
The area range is quite wide so I decided to calculate the future reversal date, and base on Time Analysis I've found that the price reversal could be occurred between 16-18. So I decided to plan a long setup at that date combined with price reversal pattern.
JOIN OUR TELEGRAM CHANNEL FOR A FURTHER AND DEEPER DISCUSSION: heylink.me/Q-Traders
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. We have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities.
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