Gold XAU/USD Daily Analysis















General overview for 07/09/2016:

There is still a chance that the impulsive bullish count will break out above the swing high at the level of 1377 and enters the weekly supply zone as wave 3. Nevertheless, to do this, the bulls must first break out from the horizontal congestion zone between the levels of 1305 – 1377, otherwise the correction will evolve to more complex and time-consuming cycle.

Support/Resistance:


1432 -1391 – Weekly Supply
1377 – Local High
1318 – 1307 – Key Level
1253 – Invalidation Level #1
1202 – Invalidation Level #2

Trading recommendations:

All long-term buy order should be still kept open. There is a possibility to add to the current long positions when the market will be trading around the key level zone*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

★★★★★★★★★★★★★★★★★★★★
SIGNALS , SOCIAL TRADING,EDUCATIONAL MATERIALS  AND MORE DETAILED ELLIOTT WAVE COUNTS ARE AVAILABLE FOR 
FREE
IN MY VIP SERVICE!
Details here:
★★★★★★★★★★★★★★★★★★★★

About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

View all posts

Dodaj komentarz

Twój adres email nie zostanie opublikowany. Pola, których wypełnienie jest wymagane, są oznaczone symbolem *

This site uses Akismet to reduce spam. Learn how your comment data is processed.