This chart represents a gold (XAU/USD) price analysis on the 1-hour timeframe using Elliott Wave Theory. Here's what it suggests:
Key Observations:
1. Elliott Wave Pattern
The chart marks a five-wave impulse pattern (1-5) followed by corrections (A-B-C).
Two strong upward impulsive waves are highlighted in blue channels.
Red circles indicate previous wave 5 peaks, followed by strong reversals.
2. Resistance & Reversal Expectation
The price is approaching a key resistance level at $2,955 (blue line).
Historically, after touching similar zones, price reversed sharply.
The black arrow suggests a potential rejection from resistance, leading to a drop below $2,900.
Conclusion:
If price reaches $2,955 and fails to break higher, a bearish move is expected.
Traders may look for sell opportunities if confirmation signs (e.g., rejections, bearish candles) appear.
Let me know if you want a more detailed breakdown!
Key Observations:
1. Elliott Wave Pattern
The chart marks a five-wave impulse pattern (1-5) followed by corrections (A-B-C).
Two strong upward impulsive waves are highlighted in blue channels.
Red circles indicate previous wave 5 peaks, followed by strong reversals.
2. Resistance & Reversal Expectation
The price is approaching a key resistance level at $2,955 (blue line).
Historically, after touching similar zones, price reversed sharply.
The black arrow suggests a potential rejection from resistance, leading to a drop below $2,900.
Conclusion:
If price reaches $2,955 and fails to break higher, a bearish move is expected.
Traders may look for sell opportunities if confirmation signs (e.g., rejections, bearish candles) appear.
Let me know if you want a more detailed breakdown!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.