Gold Analysis==>>Ascending Broadening Wedge Pattern!!!

٨ يناير

Gold(XAUUSD) attacked the Resistance zone($2,670-$2,653) as I expected yesterday.

Gold is moving in the Resistance zone($2,670-$2,653) and near the upper line of the Ascending Broadening Wedge Pattern.

Ascending Broadening Wedge Pattern: The Ascending Broadening Wedge pattern is a bearish reversal pattern that forms when price makes higher highs and higher lows within diverging trendlines, often signaling a potential breakdown.

According to the theory of Elliot waves, it seems that Gold has completed the main wave C, and we should wait for Gold to fall.

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

I expect Gold to at least fall to the Support zone($2,639-$2,630), and if this zone is broken, it will attack the lower line of the Ascending Broadening Wedge Pattern.

⚠️Note: If Gold breaks the Resistance zone($2,670-$2,653) , we can expect more Pumps⚠️.

🔔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.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

٩ يناير

تم فتح الصفقة

Stop Loss is $2,687.

Take Profits: $2,651//$2,641

١١ يناير

أغلقت الصفقة: تم الوصول لوقف الخسارة

Stop Loss(SL) was touched.

After the announcement of US rates(Yesterday).