XAU/USD: Gold long opportunities based on harmonics
Based on my last daily analysis I am looking for longs after a possible wave 4 of a rising wedge or a bounce from the alternative up channel...
First buy zone coming up is where the possible smaller Gartley and AB=CD PRZ's coiincide...
If PA reverses there then the rising wedge scenario is still a valid option and I will set my targets high, counting on a possible breakout of the recent down trendline (2 options depending on which tops one connects...)
Second buy zone in case the first one fails is where the larger bat completes...
I will look for confirmation of a possible reversal in the forementioned zones on smalller TF's...
No use in putting setups on chart for now since this will depend on price and time where these possible patterns complete. Will update or re-post closer to completion.
Daily view, channel positioning is subjective though...:
First buy zone coming up is where the possible smaller Gartley and AB=CD PRZ's coiincide...
If PA reverses there then the rising wedge scenario is still a valid option and I will set my targets high, counting on a possible breakout of the recent down trendline (2 options depending on which tops one connects...)
Second buy zone in case the first one fails is where the larger bat completes...
I will look for confirmation of a possible reversal in the forementioned zones on smalller TF's...
No use in putting setups on chart for now since this will depend on price and time where these possible patterns complete. Will update or re-post closer to completion.
Daily view, channel positioning is subjective though...:
