| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 2593.82 |
| Take Profit | 2700.00, 2900.00 |
| Stop Loss | 2558.40 |
| Key Levels | 1997.50, 2282.25, 2461.55, 2700.00, 2900.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 2461.50 |
| Take Profit | 2282.25, 1997.50 |
| Stop Loss | 2521.25 |
| Key Levels | 1997.50, 2282.25, 2461.55, 2700.00, 2900.00 |
Growth is possible.
On the weekly chart, the fifth wave of the higher level (5) of 5 develops, within which the wave 1 of (5) formed, a correction ended as the second wave 2 of (5), and the third wave 3 of (5) forms. Now, the fifth wave of the lower level v of 3 is developing. If the assumption is correct, the XAU/USD pair will grow to the area of 2700.00–2900.00. In this scenario, critical stop loss level is 2461.55.
Main scenario
Long positions will become relevant above the level of 2461.55 with the targets at 2700.00–2900.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 2461.55 will let the asset go down to the area of 2282.25–1997.50.
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