XAU/USD: wave analysis
09 December 2019, 11:52
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 1462.90 |
| Take Profit | 1517.74, 1557.48 |
| Stop Loss | 1449.75 |
| Key Levels | 1412.74, 1430.00, 1449.75, 1517.74, 1557.48 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 1449.70 |
| Take Profit | 1430.00, 1412.74 |
| Stop Loss | 1456.30 |
| Key Levels | 1412.74, 1430.00, 1449.75, 1517.74, 1557.48 |
The pair may grow.
On the daily chart, an upward trend forms as the wave of the higher level C of (B), within which the local correction iv of C ended. Now, the formation of the fifth wave v of C has begun, within which the first wave of the lower level (i) of v is developing. If the assumption is correct, the pair will grow to the levels of 1517.74–1557.48. In this scenario, critical stop loss level is 1449.75.
Main scenario
Long positions will become relevant during the correction, above the level of 1449.75 with the targets at 1517.74–1557.48. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1449.75 will let the pair go down to the levels of 1430.00–1412.74.
On the daily chart, an upward trend forms as the wave of the higher level C of (B), within which the local correction iv of C ended. Now, the formation of the fifth wave v of C has begun, within which the first wave of the lower level (i) of v is developing. If the assumption is correct, the pair will grow to the levels of 1517.74–1557.48. In this scenario, critical stop loss level is 1449.75.
Main scenario
Long positions will become relevant during the correction, above the level of 1449.75 with the targets at 1517.74–1557.48. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 1449.75 will let the pair go down to the levels of 1430.00–1412.74.
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