Gold is currently moving within a Wave 3 structure, which is typically the strongest and most impulsive wave in Elliott Wave theory. The overall trend remains bullish, with the next potential upside target around 3450.
However, to optimize entry points and manage risk effectively, traders should wait for a clear buy signal on the 1-hour (1H) timeframe. Once confirmed, this could present a strong opportunity to buy in the direction of the prevailing trend.
Stay disciplined, manage your capital wisely, and follow market developments closely!
However, to optimize entry points and manage risk effectively, traders should wait for a clear buy signal on the 1-hour (1H) timeframe. Once confirmed, this could present a strong opportunity to buy in the direction of the prevailing trend.
Stay disciplined, manage your capital wisely, and follow market developments closely!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.