XAUUSD 7/8/2024 Will the downtrend continue?

7 Agu

Looking at H1, we see that we have achieved the target of wave 2 in yesterday's plan.

Now we expect wave 3 to continue. The characteristic of wave 3 is a strong and sharp increase. Therefore, we expect a strong increase
- Wave 3 is confirmed when the price breaks through the 2418 zone, then we will have a wave 3 target at the 2467 zone
- Currently, we are in a very good buy price range, the target zone I gave in yesterday's plan
I have a backup buy plan at 2374 - 2371
Our target is the wave 3 increase, so buying up is the main thing, and the sell orders are just to catch the corrective down waves

Trading plan
BUY ZONE: 2374 - 2371
SL: 2364
TP1: 2403
TP2: 2413
TP3: 2428

SELL Scalp ZONE: 2312 - 2315
SL: 2322
TP1: 2408
TP2: 2403
TP3: 2498 SELL Scalp ZONE: 2424 - 2427 SL: 2432 TP1: 2417 TP2: 2409 TP3: 2403