XAUUSD Potentially Bearish.
Hello there,
The gold trend is generally bullish in higher time frames; however, this week's candle appears to be in an exhaustion phase, potentially represented as either Wave 3 or Wave 5 of the Elliott Wave.
The price has the potential to drop in the 1-hour time frame, with two price targets biasing toward 2678.14.
Happy Trading,
K.
The gold trend is generally bullish in higher time frames; however, this week's candle appears to be in an exhaustion phase, potentially represented as either Wave 3 or Wave 5 of the Elliott Wave.
The price has the potential to drop in the 1-hour time frame, with two price targets biasing toward 2678.14.
Happy Trading,
K.
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