Gold Update - wave 5-circle down in the wave 3 Down

Nov 7

I am in short for get profit from wave ⑤ down. will update later

Nov 7

Trade active

I am in short at 2694.

Key Levels: 2,700 (resistance), 2,678-2,688 (support).
Indicators to Watch: Price action around the 50 EMA, volume activity in the 2,670-2,688 zone.
And potential breakout above 2,700 > for stoploss.

Nov 7

Note

EMA 100 Test:

The price has pulled back to test the 100 EMA (in blue), which has previously acted as dynamic support.
The high volume on this touch suggests that participants are actively engaging at this level, possibly indicating accumulation or an area where buyers are stepping in.

If the 100 EMA fails to hold and price closes below it, we could see a retracement to the 2,678-2,670 support area.

Nov 7

Note

I am going to take a nap

Nov 8

Trade closed: stop reached

Stoploss at 2700 will update at another chart with updated elliottwave