empty
 
 
18.01.2019 11:19 AM
Simplified Wave Analysis of GOLD for the week of January 18

Large-scale graph:

The price movement of the gold market since mid-August last year is set by an upward wave and reached a strong level of resistance. In this case, the wave structure does not look complete.

This image is no longer relevant

Medium-scale graph:

The ascending section of November 13 gave rise to the final part (C) in the larger-scale structure on H4. The probability of the onset of the oncoming counter-corrective wave is high.

This image is no longer relevant

Small-scale graph:

The bearish wave of January 4 at the time of analysis does not have a turning potential but may become the basis for a larger reversal pattern in the future.

Forecast and recommendations:

The current time period is not the best situation to trade gold. The estimated purchase potential has been exhausted and no conditions have been created for sales. It is recommended to refrain from transactions until clearer conditions appear on the instrument market.

Resistance zones:

- 1305.0 / 1310.0

Support areas:

- 1255.0 / 1250.0

Explanations of the figures:

The simplified wave analysis uses waves consisting of 3 parts (A – B – C). Three consecutive graphs are used for analysis. Each of these analyzes the last incomplete wave. Zones show calculated areas with the highest probability of reversal. The arrows indicate the wave marking by the method used by the author. The solid background shows the formed structure and the dotted exhibits the expected movement.

Note: The wave algorithm does not take into account the duration of tool movements over time. To conduct a trade transaction, you need confirmation signals from the trading systems you use!

Isabel Clark,
Analytical expert of InstaForex
© 2007-2024
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback