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Home About the company Daily reviews XAU/USD Trading Analysis (05/11/2024)

XAU/USD Trading Analysis (05/11/2024)

05.11.2024

Market Review

The trend is ascending. The gold is trading in a range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an oversold condition.

XAU/USD price chart

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 2724.00.
  • Price targets at 2757.70 and 2790.00.

#xauusd #gold #metalstrading #tradingstrategies #tradingmt5

Author: GC
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