Reversal Magnet to Key Support: Retracement to Wave 4 in XAUUSD

٢٢ أغسطس ٢٠٢٤

In this analysis, I'm highlighting a critical support level in XAU/USD, where the price is reversing and being drawn to the Wave 4 region of the previous impulse wave, according to the Elliott Wave Principle (EWP). This level often acts as a strong support zone, making it a key area to monitor.

On higher timeframes, there is a possibility of a Head and Shoulders pattern forming, which would further confirm the likelihood of a reversal at this key level. Traders should watch this area closely for signs of bearish continuation patterns or additional confirmation signals.

٣٠ أغسطس ٢٠٢٤

تم فتح الصفقة

On sideways

١٥ سبتمبر ٢٠٢٤

أغلقت الصفقة: تم الوصول لوقف الخسارة

Bullish Trend Continued