XAUUSD Elliott Wave Analysis: Potential Wave Y Correction
In this 2-hour chart for XAUUSD, we observe the formation of a complex WXY correction pattern, indicating that the price may be gearing up for a significant move.
The chart shows a completed wave W and an ongoing corrective wave X, which is subdivided into an ABC structure.
As the price approaches the completion of wave X, we anticipate a strong wave Y to the downside, potentially targeting the 2321.374 level, followed by a powerful bullish reversal.
Traders should watch for a break below the wave X support to confirm the onset of wave Y, followed by a possible buying opportunity at the projected low.
This analysis suggests a potential decline to the 2321.374 level before a strong rally resumes. Keep an eye on key support levels and be prepared for possible market reactions.
The chart shows a completed wave W and an ongoing corrective wave X, which is subdivided into an ABC structure.
As the price approaches the completion of wave X, we anticipate a strong wave Y to the downside, potentially targeting the 2321.374 level, followed by a powerful bullish reversal.
Traders should watch for a break below the wave X support to confirm the onset of wave Y, followed by a possible buying opportunity at the projected low.
This analysis suggests a potential decline to the 2321.374 level before a strong rally resumes. Keep an eye on key support levels and be prepared for possible market reactions.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.