Gold Daily Analysis 05.08.2022
We need to complete the fifth high in eliott wave at 1816. So once gold touches a trigger level near the support of value zone 1776 we can see bulls upto 1810 level.
So I suggest to go for buy when gold comes near support.
In longterm gold is bullish. So prefer buying over sell
The value zone which formed recently is still supporting the bulls. The longterm bearish value zone in yellow failed yesterday and breakout confirmation is done in 4 hours. However we will have a test for breakout of Daily candle today. So when prices come to 1776 level the test completes.
BUY 1776 SL 1766 TP 1816
SELL 1816 SL 1826 TP 1766
So I suggest to go for buy when gold comes near support.
In longterm gold is bullish. So prefer buying over sell
The value zone which formed recently is still supporting the bulls. The longterm bearish value zone in yellow failed yesterday and breakout confirmation is done in 4 hours. However we will have a test for breakout of Daily candle today. So when prices come to 1776 level the test completes.
BUY 1776 SL 1766 TP 1816
SELL 1816 SL 1826 TP 1766
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