The down trend still continues starting with the Primary wave degree, interesting for longer term investors,4 consecutive trends are pointing down, but the most conservative target has already been reached.
As long as all trends are down, hold on to your short position or wait for a buying opportunity at $1439.50.
The XAUUSD chart is completing a diagonal cycle degree wave 5 .
In this wave, it should complete the correction of the Primary degrees wave 4.
To complete wave x at the intermediate degree , it will rise to the range of $1844.86 to $1899.16 and then move lower to form wave y to $1439.3.
Around this price, long-term buying for intermediate degree wave 5 , up to $2200 targets is attractive.
As long as all trends are down, hold on to your short position or wait for a buying opportunity at $1439.50.
The XAUUSD chart is completing a diagonal cycle degree wave 5 .
In this wave, it should complete the correction of the Primary degrees wave 4.
To complete wave x at the intermediate degree , it will rise to the range of $1844.86 to $1899.16 and then move lower to form wave y to $1439.3.
Around this price, long-term buying for intermediate degree wave 5 , up to $2200 targets is attractive.