Gold will Go Down Again!!!
Updated
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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Trade was activated after breaking the lower line. 
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