XAUUSD is currently showing signs of a short term bullish momentum. After showing a break of structure and reversing to the downside it looks like XAUUSD has met a nice level of support where it may continue showing bullish movement until it reaches around the 1900-1925 level where we should see a strong resistance.
After reaching the 1900-1925 level we should see a strong bearish movement. To further this bearish sentiment this level would also be the second wave of the Elliott Wave Theory which would be followed by the 3rd wave. The 3rd wave is usually regarded as the most volatile and impulsive wave of the EWT which would be a great place to enter.
The next form of support that can be seen after should be around the 1777.500 area.
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After reaching the 1900-1925 level we should see a strong bearish movement. To further this bearish sentiment this level would also be the second wave of the Elliott Wave Theory which would be followed by the 3rd wave. The 3rd wave is usually regarded as the most volatile and impulsive wave of the EWT which would be a great place to enter.
The next form of support that can be seen after should be around the 1777.500 area.
Upgrade your trading with me
For FREE SIGNALS and if you would like to see updates on this idea and many more please follow:
@wrightwayinvestments
@wrightwayinvestments
@wrightwayinvestments
✅ Hit the like button, and share for more!