XAUUSD is expected to rise strongly.

١٢ نوفمبر ٢٠٢١

XAUUSD is expected to rise strongly. Traders who work with technical analysis, including wave analysis, are often faced with the difficulty of finding wave symmetry. After all, a wave movement must have a wave axis. Often this is not horizontal, since if a wave motion has an accelerating slope then the wave axis is also increasing steeply, usually using the slope of the underlying ATR axis. Since stock market price movements are some type of wave movement, their axes can be different. Therefore, it is advisable to choose an axis on which the half-period of the wave that forms can be identified. This is the strategy we will choose now. In this case, the chosen wave axis is the 2020 closing price of gold. I note here that the axes generated by the closing and opening prices can be strong support and resistance levels in almost all time frames. The orange axis line in the figure is the 2020 closing price. If you look at the chart, you can see that gold has generated symmetrical correction waves on this axis after ending its big rise in late August 2020. Furthermore, it can be seen that it has moved from this corrective phase back into an uptrend in recent weeks. The question then arises as to how long it will last. Since gold has been in a symmetrical wave movement for almost 1 year, with the axis of symmetry being the 2020 closing price, it is advisable to keep this technical analysis strategy and continue to follow it. Looking at the chart again, it is a logical conclusion to assume that a similar size rise as seen last year could be building up again. For then the symmetrical wave movement would continue. If we think about this and only then move on to fears of rising inflation, we can see that we are at the beginning of a strong upward phase, both fundamentally and technically. The target price for this is : 2351 usd.