XAU/USD: wave analysis
16 May 2018, 09:56
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 1294.57 |
| Take Profit | 1233.90, 1203.08 |
| Stop Loss | 1325.63 |
| Key Levels | 1203.08, 1233.90, 1325.63, 1365.30 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1325.70 |
| Take Profit | 1365.30 |
| Stop Loss | 1312.50 |
| Key Levels | 1203.08, 1233.90, 1325.63, 1365.30 |
The price can fall.
On the daily chart, the wave (C) of the higher level is developing, within which the first wave 1 of (C) is forming. Now the third wave of the lower level iii of 1 is developing. If the assumption is correct, the price will fall to the levels of 1233.90–1203.08. The level of 1325.63 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1325.63 with the targets at 1233.90–1203.08. Implementation period: 7–10 days
Alternative scenario
The breakout and the consolidation of the price above the level of 1325.63 will let the price grow to the level of 1365.30.
On the daily chart, the wave (C) of the higher level is developing, within which the first wave 1 of (C) is forming. Now the third wave of the lower level iii of 1 is developing. If the assumption is correct, the price will fall to the levels of 1233.90–1203.08. The level of 1325.63 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1325.63 with the targets at 1233.90–1203.08. Implementation period: 7–10 days
Alternative scenario
The breakout and the consolidation of the price above the level of 1325.63 will let the price grow to the level of 1365.30.
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