Elliott Waves Analysis
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GOLD (XAUUSD) ANALYSIS UPDATE
07/08/24 | Tuesday
Gold hasn't made any breakout yet on the Daily timeframe.
If the price reaches the support zone, I will buy with a target to reach the higher H4 Resistance zone @ 2411.60. However, we need to buy low at the H1 Support @ 2386.40.
Check Out My Watch Zones :
Sell zone: @ 2392.00 - @ 2395.50
Buy zone: @ 2386.40 - @ 2383.50
If the price doesn't respect this H1 Support zone @ 2386.40, we will wait at the lowest H1 Support @ 2377.90.
Otherwise, if Gold breaks out of this H1 Resistance zone, I will use this zone as an RBS zone for a counter buy till the H4 Resistance.
Gold sell now
@ 2392.00 - 2396.00
SL : 2340.00
TP1 : 2390.00
TP2 : 2388.00
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Like finally Gold running 55 pips Hit TP 1
Lock it in! Secure half of that glory and let breakeven on entry be your battle cry. Power move, engage!
Gold buy now
@ 2397.50 - 2393.50
SL : 2389.50
TP1 : 2399.50
TP2 : 2301.50
US SESSION : Fundamental News
Economic Calendar 06/08/2024
We will be experiencing multiple MEDIUM IMPACT news tonight. Be attentive to the market and take care of your account!
Remember, we are professional traders. Trade wisely and lets act accordingly!
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FAST ACTION, FAST REWARD!
Gold buy active 23 pips📉
DONE HIT TP 1
Let's secure 70% profit. Hold 30%
Stick to breakeven+ okay?
Gold buy now
@ 2413.70 - 2409.70
SL : 2405.70
TP1 : 2415.70
TP2 : 2417.70
