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XAU/USD Trading Analysis (02/09/2024)

02.09.2024

Market Review

The trend is ascending. The downward inner wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

Buy at the beginning of the formation of the upward wave structure, when the wave A breaches the sloping channel of the descending truncated structure.
Stop-loss at 2490.00.
Price targets at 2512.50 and 2526.50.

#xauusd #gold #metalstrading #tradingstrategies #tradingmt5

Author: GC

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