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Elliottway replied Dec 19, 2024As I mentioned earlier, the FOMC is misleading and can be considered a trap. My volume analysis has confirmed this, and it's clear that the current situation is not what it appears. It's okay, though, I'm confident in my findings.
Gold
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Elliottway replied Dec 19, 2024The sell area at 2596-8 has already been reached. Let's continue to push further south. If any break above this level. 2603-7 resistance.
Gold
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Elliottway replied Dec 19, 2024I will hold my short position until the price reaches between 2563 and 2568. After that, wait for a retracement to the range of 2580 to 2584. The next 4hour candle is likely to reach this target.
Gold
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Elliottway replied Dec 19, 2024The target has been reached, so it’s time to retrace back to the pivot point. A re-entry for a sell position would be a good opportunity at this point.
Gold
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Elliottway replied Dec 19, 2024My analysis uses Elliott Wave theory along with volume-based support and resistance levels, which is different from regular strategies. I adjust these levels based on liquidity to trap retail traders. In this case, the 4-hour chart didn’t close ...
Gold
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Elliottway replied Dec 19, 2024Expected that the price will reach the pivot point today and then move downward again.
Gold
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Elliottway replied Dec 19, 2024Gold highly likely that the price will reach 2683 and possibly go even lower. This is based on your strategy. However, I will stick to my sell side approach until I see the price drop to 2450.
Gold
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Elliottway replied Dec 19, 2024Sorry if my message came off the wrong way. When I saw the emoji, I laughed, but I didn't mean to make fun of anyone. I deleted the reply because I didn’t want to hurt anyone. I hope it didn’t offend you, that wasn’t my intention at all.
Gold
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Elliottway replied Dec 19, 2024Could you please explain the reason for buying more? Is it due to the indicator OB zone? I might have missed learning more about this concept and would like to understand it better.
Gold
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Elliottway replied Dec 19, 2024The liquidity range for selling is between 2616 and 2625. A break above this range would confirm a potential shift.
Gold
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Elliottway replied Dec 19, 20242603 break below. 2563 next target The different market sessions have an impact on gold prices. In the Asian session, gold tends to weaken because of lower trading activity. However, during the London and US sessions, gold usually strengthens due to ...
Gold