Gold’s Bull Trap? Major Reversal Incoming!

20 feb

As I expected in yesterday's post, Gold(XAUUSD) started to rise from the Support zone($2,919-$2,905) and bounced exactly on my hypothesized lines, and I hope you were able to profit.

Gold failed to break the Resistance zone($2,948-$2,940). And it appears to have created a Bull Trap.

In terms of the Elliott wave theory, Gold seems to have completed the main wave 5, and one of the signs for me was the Bull Trap.

I expect Gold to fall to at least the Support zone($2,919-$2,905) after breaking the Uptrend lines. (Next targets are also possible).

Note: If Gold can go over the Resistance zone, we can expect more pumps.

Be sure to follow the updated ideas.

Gold Analyze ( XAUUSD ), 30-minute time frame.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

21 feb

Trade attivo

Trade was activated after breaking the uptrend lines.

22 feb

Trade chiuso: obiettivo raggiunto

First Target Done, if next week Gold goes below 100_SMA(1 hour), we can expect more dumps.