Gold eyeing 1950
Price has been bearish for the last 5 days with strong momentum, it has tapped into a breaker block at 1957 and its showing some bullish momentum which I believe would push Price back to 1945-1950 region to retest a supply zone.
DXY has shown weakness has Price is moving with high bearish momentum which should push GOLD higher in the coming week.
Elliot Wave
I believe Price is correcting downwards on the daily, and it is currently printing out wave B of a zigzag pattern which would end at 1780-1800. At the moment we should see Price push up back to 1950 to complete the smaller wave c of the complex wave B
I would advise looking out for buying opportunities
So, I am buying up to the first TP at the supply zone drawn with SL at the bottom of the demand zone.
This is a long term trade. RIsk Management is advised
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
DXY has shown weakness has Price is moving with high bearish momentum which should push GOLD higher in the coming week.
Elliot Wave
I believe Price is correcting downwards on the daily, and it is currently printing out wave B of a zigzag pattern which would end at 1780-1800. At the moment we should see Price push up back to 1950 to complete the smaller wave c of the complex wave B
I would advise looking out for buying opportunities
So, I am buying up to the first TP at the supply zone drawn with SL at the bottom of the demand zone.
This is a long term trade. RIsk Management is advised
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
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