2024-06-19 XAUUSD Bullish Case: V reversal at Swing Low Expected
- The price of gold is still correcting for Wave 4. The assumption is that we're in a contracting diagonal.
- The price can turn down but can also keep correcting for a while here
- After the correction, take out of swing low is expected. This is the crucial place to distinguish between Bullish and Bearish scenario. If price turns sharply after breaking the low, we are in Bullish Scenario and and price can go up. this will be especially true if price takes only Swing Low #1 but not exceed Swing Low #2.
- The price can turn down but can also keep correcting for a while here
- After the correction, take out of swing low is expected. This is the crucial place to distinguish between Bullish and Bearish scenario. If price turns sharply after breaking the low, we are in Bullish Scenario and and price can go up. this will be especially true if price takes only Swing Low #1 but not exceed Swing Low #2.
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