Reversal Magnet to Key Support: Retracement to Wave 4 in XAUUSD

2024年8月22日

In this analysis, I'm highlighting a critical support level in XAU/USD, where the price is reversing and being drawn to the Wave 4 region of the previous impulse wave, according to the Elliott Wave Principle (EWP). This level often acts as a strong support zone, making it a key area to monitor.

On higher timeframes, there is a possibility of a Head and Shoulders pattern forming, which would further confirm the likelihood of a reversal at this key level. Traders should watch this area closely for signs of bearish continuation patterns or additional confirmation signals.

2024年8月30日

交易進行

On sideways

2024年9月15日

交易結束：達到停損點

Bullish Trend Continued