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

02.09.2024

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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