XAUUSD: Huge movement in the next 2 weeks (PART 2)
Summary:
a. XAUUSD is running in a corrective wave and already forming an overlapping five wave affairs that subdivide 3-3-3-3-3
b. The beginning of wave iii would be start at 1925-1939 area
c. Upside target at 2010
d. Bullish invalidation level at 1900
What's up traders?
Here I provide a XAUUSD technical analysis based on my knowledge about Elliott Wave principle.
As we can see XAUUSD is at the last phase to finish its corrective wave and forming the Triangle. In the subminuette degree there's an ABC Correction and current price is already at the end of the subminuette wave C and the reversal already occurred as shown in my previous analysis. Currently the price movement indicating to make a pullback at 1925-1939 area which is the expected corrective wave at subminuette degree would be ended. The invalidation level is still the same like my previous post at 1900.
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. I have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities as a trader or an investor.
a. XAUUSD is running in a corrective wave and already forming an overlapping five wave affairs that subdivide 3-3-3-3-3
b. The beginning of wave iii would be start at 1925-1939 area
c. Upside target at 2010
d. Bullish invalidation level at 1900
What's up traders?
Here I provide a XAUUSD technical analysis based on my knowledge about Elliott Wave principle.
As we can see XAUUSD is at the last phase to finish its corrective wave and forming the Triangle. In the subminuette degree there's an ABC Correction and current price is already at the end of the subminuette wave C and the reversal already occurred as shown in my previous analysis. Currently the price movement indicating to make a pullback at 1925-1939 area which is the expected corrective wave at subminuette degree would be ended. The invalidation level is still the same like my previous post at 1900.
Disclaimer: All of the information that provided is based on sources that we believe to be reliable, but they have no guarantees. Therefore, every effort is made to ensure that the content is accurate and complete. I have a very strict money management calculation and usually I trade with (max.) 5% risk per pair to ensure sustainability and equity endurance to make money in the futures market for a long-term period. Any profits or losses that occurred based on this analysis is your own responsibilities as a trader or an investor.
Comment:
in case you want to catch up with Part 1, the analysis is provided in the Related Ideas
Trade active
Trade closed: stop reached:
My strategy were busted. New analysis would be posted soon.
