XAUUSD (GOLD)

1923.50 for safety and retracement area

Yep, TP around 1923-1924

I existed my position at 1926.50 (4 points profit from 1930.50) as I am done for the week, and I don't like holding open positions over the weekend.
Enjoy your weekend everyone and have a safe and lovely trading week next week.

Please share.. if any one know. where to check the Gold live price when holiday time..

Looks like gap up is possible.

thanks

Next week analysis
What u think?

Wrong.. but, good try

please try to count from bottom..

1. Identify the initial wave of the Elliott Wave cycle. This is known as the "zero" wave and usually starts with a strong move in either direction.

2. Count the subsequent waves. This is done by counting the number of waves that follow the initial wave. Each wave is labeled with a number. The first wave following the initial wave is usually labeled as wave 1, the second wave is labeled as wave 2, and so on.

3. Identify the trend. After counting the number of waves, it is important to identify the trend of the wave. If the wave is up, it is labeled as a "bullish" trend, while if the wave is down, it is labeled as a "bearish" trend.

4. Analyze the overall wave pattern. After identifying the trend of the wave, it is important to analyze the overall wave pattern. This includes looking at the wave lengths, the amplitude of the wave, and the overall shape of the wave. This will help you identify the Elliott Wave pattern.

5. Use the Elliott Wave count to help make trading decisions. The Elliott Wave count can help traders identify potential entry and exit points in the market. This can be used to increase profits and minimize losses when trading in the gold market.

Elliott wave theory is a popular technical analysis tool used by traders and investors to analyze the market and identify trends. It uses repetitive patterns to analyze market cycles and forecast future prices. While it is not 100% accurate, it can be a helpful tool in predicting the direction of the market. The Elliott Wave count is based on the idea that markets move in repetitive patterns, and that these patterns can be identified and used to make trading decisions. The theory is that by recognizing these patterns, traders can identify potential entry and exit points in the market that may lead to higher profits. While there are no guarantees that the Elliott Wave count will be successful, its use can help increase profits and minimize losses.

Actually, your prediction is right. But.. counting is wrong.. PA time +/- 2 or 3 points difference will be there.

am expecting gap up above 1930..

Help me to check gold live rate when holidays.

Can you share your counting please?

I am new to trading and just started studying about Waves when I saw your predictions were 100% accurate the previous week and I am amazed by it.
Also what do you mean about a gap coming? Like it will jump and leave a gap?

This is what I expect based on 4H TAs, gold should come down below 1920 first before heading to 1930 again.

Yes, may be you are right. Anything is possible.

Sorry for late reply. Just now I saw your reply notification.

Sure, I will share my counting with you. But, invalidation time. You will confuse the sequence.

I calculate the counting by eye reading. Let me prepare chart and share with you shortly.

Thank you for your feedback about my analysis. Am not 100% accurate. Because. Anytime, our analysis go wrong called, invalidation.

Please check..

I didnt mean this will happen.. this is one of option.. but, in reality anything will happen.. that time. i will change my plan immediately.. i shared reference purpose only. not for trading..

anyone please share.. gap up is possible or not.. some traders they confirm sunday evening..

I see, thanks for sharing.
But something doesnt add up to me. I will analyze more.

Also can you please explain what a gap up is that is expected?

Check Image for possible outcome

EDIT: Second Image I can see a gap there:
At 10th of May

___________ gap Down = IMHO !

This is the 5M chart I use in my trading, gold still has one more down wave to complete in 5M, it may complete in 1918-1919 area.

On 4H, it is closed right beow 100 SMA and 4H resistance of 1924.71 The 4H support is at 1916.20, the 4H has not shown a buy signal yet after the sell signal at 1930.5. Price must close above 1926 downtrend line to be bullish.