XAUUSD June 25, 2024 Is the rally over?
Yesterday the price touched the wave 4 target zone that we predict is the 2329 zone.
- Currently, the price is reacting at the 2334 area. Looking at the current H1 candlestick model, we see withdrawal candles appearing in this area, proving that there is very strong selling force blocking the price increase in this area.
- The ending target of this correction is around the 2334 zone. It is important that we wait for a reversal confirmation signal in this zone to be able to set up a Sell trade.
- Note that currently on the H1 frame, I am seeing a momentum signal entering the oversold area. This indicates a high possibility that a small price increase will occur. This is a very good opportunity to confirm a reversal. We need to pay attention. close
+ If this increase does not break through 2334.2, then we will have a reversal signal at the 2334.2 price range. So the entry point is when the price breaks to the previous bottom.
+ If the price breaks through 2334.2, then we will continue to observe that the price may approach the 2340 to 2342 range. Then we wait for a reversal confirmation to find a point to enter a sell order.
The market is always fluctuating and nothing is certain, so Deekop wants his analysis to help you strengthen your trading strategy. I will update more when there are fluctuations in the market. Thank you everyone for following
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XAUUSD June 26, 2024 important price zones?
Yesterday's price broke the 2334 zone, confirming the abc wave correction process, which also means that wave 1 and orange wave 2 have completed.
After that, the price continues to decrease to continue completing wave 3. We have the characteristics of wave 3 as moving quickly and sharply,
- So we wait for the candle to close below 2316.8 to confirm the correction to complete.
- The second important price zone to confirm that we are in wave 3 is the price zone 2309 that needs to be broken down and the sufficient condition is that the price breaks below 2287.
- After the price has broken below the 2287 area, the target price area we have measured will be considered the 2256 price area and then the 2210 price area.
- I have listed important price zones so you can have the best trading management plan.
- Trading plan with sold transactions from the 2334 - 2337 range, you can watch these price zones to lock in partial profits or you can DCA when the price breaks out through these price zones.
- When the price breaks out through these price zones, you can find an entry point for a Sell order
Yesterday's price broke the 2334 zone, confirming the abc wave correction process, which also means that wave 1 and orange wave 2 have completed.
After that, the price continues to decrease to continue completing wave 3. We have the characteristics of wave 3 as moving quickly and sharply,
- So we wait for the candle to close below 2316.8 to confirm the correction to complete.
- The second important price zone to confirm that we are in wave 3 is the price zone 2309 that needs to be broken down and the sufficient condition is that the price breaks below 2287.
- After the price has broken below the 2287 area, the target price area we have measured will be considered the 2256 price area and then the 2210 price area.
- I have listed important price zones so you can have the best trading management plan.
- Trading plan with sold transactions from the 2334 - 2337 range, you can watch these price zones to lock in partial profits or you can DCA when the price breaks out through these price zones.
- When the price breaks out through these price zones, you can find an entry point for a Sell order
We watch the price range 2340 to 2345 to find a sell order