XAUUSD intersection

We're right between the intersection area between the demand zone & local channel.

Possibility of clean ABC wave. Could attempt to go lower, creating a larger 1-5 wave which could be forming a more complex wave.

Options:
  • Break above channel, attempt run.
  • Reject channel top, range between trendlines and break above/below channel/zone.
  • Dip back into demand zone and accumulate.
  • Dip back into demand zone and break down for lower.
Trend Analysis

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