Gold Enters PRZ and TRZ – Correction is Coming!?

5月23日

Gold(XAUUSD) moved as I expected in the previous Idea and reached the Resistance zone($3,387-$3,357) and Resistance lines.

Gold is moving near the Resistance lines, Resistance zone($3,387-$3,357), Potential Reversal Zone(PRZ)[$3,384-$3,367] and Time Reversal Zone(TRZ).

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

In terms of Elliott Wave theory, Gold appears to be completing microwave 5 of Main wave 3, so Main wave 3 could have an extended structure.

I expect Gold to experience at least one correction after entering the PRZ and TRZ, the correction could continue to $3,329. If the Support lines are broken, the next target could be the Support zone($3,280-$3,245).

Note: If Gold touches $3,420, there is a possibility of further pumping and breaking the Resistance zone($3,435-$3,406).

Gold Analyze ( XAUUSD ), 2-hour time frame.

Be sure to follow the updated ideas.

Do not forget to put a 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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5月26日

交易進行

Trade was activated when Gold entred to PRZ and TRZ

5月27日

交易結束：目標達成

Target Done