Hello traders,welcome back to my analysis ! As you can see,price of gold was rising last week but what is happening right now ? Well,in my opinion I expect move to the downside because H4 Elliot Wave Theory (1-2-3-4-5-A-B-C) is already done. But from a daily perspective we need one more wave to complete this EWT on the daily timeframe. You can also see that price is still consolidating near to its resistance level.
On monday I expect breakout of our trendline and possible correction of this trendline. So on Tuesday we will have very nice short opportunity with a good risk to reward ratio.
Thank you all for reading this 👌
On monday I expect breakout of our trendline and possible correction of this trendline. So on Tuesday we will have very nice short opportunity with a good risk to reward ratio.
Thank you all for reading this 👌