Gold Analysis==>>Still Chance to Fall by Wedge Pattern!!!

13 בינו׳

Gold(XAUUSD) is moving in the Support zone($2,671-$2,653) and managed to break the Support line.

According to the theory of Elliott waves, Gold seems to have completed the Double Three Correction(WXY).

In terms of Classic Technical Analysis, the Ascending Broadening Wedge Pattern is still valid, although, after the announcement of US rates, this pattern was slightly challenged.

Also, we can see the Regular Divergence(RD-) between Consecutive Peaks.

I think Gold will fall to at least $2,651 in the coming hours.

This week, US indexes can affect the Gold trend, so be careful about your positions when the index is published.

The most important economic indexes of the US this week:

Core PPI m/m, PPI m/m = Tue Jan 14

Core CPI m/m, CPI m/m, CPI y/y = Wed Jan 15

Core Retail Sales m/m, Retail Sales m/m, Unemployment Claims = Thu Jan 16

⚠️Note: If Gold goes over $2,700, we can expect more pumps⚠️

⚠️Note: If Gold closes a 4-hour candle below 50_SMA(Daily), we can expect a break of the lower line of the wedge pattern.⚠️

🔔Be sure to follow the updated ideas.🔔

Gold Analyze ( XAUUSD ), 1-hour 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.

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14 בינו׳

עסקה פעילה

My trade was activated after USA indexes were Released(near the resistance zone).

The release of PPI m/m and Core PPI m/m indices in the U.S. can impact financial markets as follows:

Impact on Gold==>Falling PPI: Suggests decreasing inflationary pressures, which may reduce demand for gold, leading to lower prices.

14 בינו׳

הערה

I think gold is in a good situation to open a short position

15-minute time frame.

Be sure to follow capital management.

The worst Stop Loss(SL) can be $2,683, and if gold touches this price, we should expect gold to rise further.

15 בינו׳

עסקה סגורה: היעד הושג

My first Target Done

With the announcement of US indices(Core CPI m/m, CPI m/m, CPI y/y), Gold started pumping, but the support and resistance zones are valid, and you can calculate the method.

Gold seems to have made a Bearish Harmonic Bat, which could be a bearish sign. In general, until Gold does not rise above $2,698, the main trend can still be downward.

If Gold breaks the Support zone($2,680-$2,674), I hope for more Gold fall.