After a retest at the support/resistance at around 1495 - If the price is successful in breaking through we should be seeing 1505.
We should enter after clear confirmation indicating upwards.
Looking to enter at 1497 if price behaves nicely.
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Taken this long based on a slow down of momentum and candle closures not closing below previous lows on the 4hrly, technical assets showing a buy indication and XAUUSD market sentiment about...
Pretty explainable from the chart above.... NFP is on today which also has been a Dud for the last couple of months, however you never know and to plan to enter before is always advisable. All be it there many ways to trading!
We can see retest possibility of it going higher and on the flips side reaching 1490 area!
The gold W1 graph shows clearly identifiable fractal motions. Analysis assumes that Target Level 1 1850 usd may be within the foreseeable future. In the event that the fractal continues to build, there may be a significant correction. Target level 2 can be around 3165 usd.
The current movement of the exchange rate is the construction of a sideways 0.5X fractal. In my analysis, it can be seen that the two preceding fractals, which I labeled as 1X fractal, are supposed to repeat. Due to the repetition of the size of 0.5X, the connecting wave sequence (white line) may be halved. Therefore, the target price can be around 1558 usd.
Confirming the previous analysis, I am trying to approach the next target price with a fractal theory. This level is 1576usd. I still maintain that I am not expecting an adjustment from the 1500 usd level.