Gold will Go Down Again!!!

2024年12月19日

Gold(XAUUSD )started to decrease yesterday after the release of the US indexes(Federal Funds Rate, FOMC Economic Projections, FOMC Statement).

Gold is moving near the Resistance zone($2,642-$2,620) and Resistance lines.

In terms of Classic Technical Analysis, Gold appears to be forming a Rising Wedge Pattern.

According to Elliott's wave theory, Gold is completing wave 4. The probability that the wave structure of wave 4 will be complicated is very high. Of course, it depends on today's US indexes (Final GDP, Unemployment Claims).

Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.

I expect Gold to start declining again from the Potential Reversal Zone(PRZ)[$2,628-$2,621] and AFTER breaking the lower line of the wedge pattern, it will fall to at least $2,611 and attack the Heavy Support zone($2,605-$2,584).

⚠️Note: If Gold breaks the Potential Reversal Zone(PRZ)[$2,628-$2,621] and Resistance lines, we can expect more Pumps.⚠️

🔔Be sure to follow the updated ideas.🔔

Gold Analyze ( XAUUSD ), 15-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.

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2024年12月20日

交易進行

Trade was activated after breaking the lower line.

2024年12月21日

交易結束：目標達成

My Position was closed when Gold touched the 21_SMA(Weekly)