Elliott Waves Analysis
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GOLD H4 MARKET OUTLOOK
📊 1 October 2024
Gold is within the H4 breakout zone 2643 - 2646. We are taking a calculated risk with a sell position here, but we’ll stick to the game plan.
The medium-risk sell is at H4 resistance 2656, which we can try if the first setup hits the stop loss.
Today, we’ll trade based on the trend Gold develops, as it’s the monthly candle opening. For now, my focus remains on selling, especially given the significant decline in USD over the past few months.
This month could mark a return to normalcy for the USD.
❌ NO CONFIRMATION ❌ NO ENTRY
📈 R - Resistance
📉 S - Support
🕯 RBS - Resistance Become Support (Swap Zone)
🛍 SBR - Support Become Resistance (Swap Zone)
⏱ Time Frame - Daily, Hour 4, Hour 1
As Sun Tzu said, “In the midst of chaos, there is also opportunity.” Let’s continue to monitor the zones and wait for further instructions.
HIT TP 1 ✅ + 44 PIPS
Scalper trader can close now. Who wanna hold do set BE for 0% risk.
Trade active and Running +30 PIPS✅
Can close now. Who wanna hold do set BE for 0% risk.
GOLD SELL NOW IN ZONE 2645.05-2649.05
(SCALPING)
TP 1 : 2643.20
TP 2 : 2641.20
TP 3 : OPEN
SL : 2653.05
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Gbpjpy buy now
@ 191.120 - 190.705
SL : 190.315
TP1 : 191.315
TP2 : 191.515.
GOLD (XAUUSD) ANALYSIS UPDATE
Date: 30/09/24 | Monday
Price is currently in a bearish momentum on both the daily and H4 timeframes, with a downtrend structure on H1. However, we need to wait for a pullback.
The price is still at the H4 support zone without a breakout, though the H1 support has already broken.
Using this zone as SBR is high risk, so it's best to wait for a clear H4 breakout from the current range. A retracement to H4 resistance is possible.
Key Zones to Watch:
Sell zone: @ 2657.00 - 2658.50
Buy zone: @ 2646.75 - 2645.10
Maintain patience, and let price action confirm these levels before making any moves.
Message
Gold buy now
@ 2650.50 - 2646.50
SL : 2642.50
TP1 : 2652.50
TP2 : 2654.50
Happy Monday, Champion! ☄️
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