XAUUSD - More downside
Looking at the hourly chart on Gold, I believe that more downside is on the cards as long as we are trading below 1966.00.
The pair had a 5-wave down followed by a 3-wave up correction which retraced 78.6% of the down move. A break below 1919.00 will further confirm our view.
We are looking for a move below the 1890.00 level hit at the beginning of the week.
The pair had a 5-wave down followed by a 3-wave up correction which retraced 78.6% of the down move. A break below 1919.00 will further confirm our view.
We are looking for a move below the 1890.00 level hit at the beginning of the week.
Nota
Gold prices fell to 1915 this morning but has started correcting since then. It looks like the first wave of the next down move has ended and a small correction is taking place. A trader who has a short position can now lower his stop level to above 1950 i/o 1970
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.