XAUUSD | Wave analysis of the ticker

#XAUUSD. We also keep long position on gold.

I often get criticism about forecasts taking too long to come true. No one wants to get rich slowly, everyone wants bitcoin at 250,000 dollars tomorrow and gold at historic highs in a week. But the market often has its own ideas about this.

You’ve heard many times that Waves don’t work in time. But this is not quite true. Waves almost always give time reference points when the market is in an impulsive movement. But corrections like to stretch sideways… So what then, don’t advise to buy and miss the growth of an asset…?

I don’t think so, I find it easier to re-enter a position several times or increase volume in case of a complication than to miss a trend. That is exactly what is happening with gold right now – I keep taking longs from the triangle (x) that was previously suggested here (https://t.me/eightyninewaves/3761).

#XAUUSD. You can buy gold if you can’t be without trading.

#XAUUSD. The ending diagonal labelled yesterday is being implemented.

#XAUUSD. On the small degrees there is an ending diagonal.

I continue to stay long pretty much the entire commodity market and in particular on gold, which is updated on the 7th here once a month (https://t.me/eightyninewaves/3697).

I believe the wave structure is ready to move up to all-time highs. Trading plan with a not so good p/l ratio is on the chart. Should have closed it by take a month ago, p/l was much higher there.

#XAUUSD. It’s time to get into longs – the triangle has been completed.

#XAUUSD. I removed the limit, it has become irrelevant – the diagonal has already ended.

Since last year, I’ve been for buying gold for rubles, here’s a forecast from a year ago (https://t.me/eightyninewaves/2988). At that time gold was worth less than 3000 rubles and now its rate is more than 5500 rubles. And if you’re interested in my opinion, I would start in your place to get rid of paper gold like OMS and futures. In favor of the physical one to survive in the crisis or in favor of the stock to earn money before the very crisis – your choice. But my opinion is that there is very little speculative potential for gold in rubles. There may be a reversal from the area of 6000 rubles back to 2500.

Once again: I wouldn’t touch the physical gold, but continue to save in the form of gold bullion. It’s only about paper gold in the forecast.

A month ago I said it was possible to buy gold, even for rubles, for the medium term (https://t.me/eightyninewaves/3599). The target for the historical highs remains and there is a potential entry point for traders too.

I put limits in the area below 1900 with a stop at 1845. Counting on a diagonal in the wave [C] of “c” of triangle (x).

I continue to look at gold positively, it’s so far the only possible replacement for the US dollar in the reserves of the countries competing with the states. There is even discussion of a supranational currency backed by gold. The prospects for savings are excellent here.

#XAUUSD. The ending diagonal on the minutes TF has started to work out.

#XAUUSD. There is a potential ending diagonal on small degrees. If you want, you can trade according to the strategy.

The Elliott Wave analyst continues to update gold on the 7th of every month in the public domain. All the way from the end of last year I’ve been saying: we have to take it, historical highs will be further, 30% growth (https://t.me/eightyninewaves/3129). Later I made some more successful predictions as trading forecasts, for example here I suggested to go long from the ending diagonal (https://t.me/eightyninewaves/3169) and here I suggested a deep correction and entering the longs from it (https://t.me/eightyninewaves/3355). And two months ago, we traded an exit from the triangle into longs again and it closed by take again (https://t.me/eightyninewaves/3492).

Now I recommend to buy again – the triangle in the wave (x) has been completed and the gold will make new all-time highs soon. I myself buy mostly other metals as the stop is much closer there in % of current prices. For updates on silver, platinum, palladium and copper welcome to the PREMIUM channel. For the investors, this trading plan on the chart will be enough.

#XAUUSD. I’m waiting for growth as well. But there are no setups for longs.

#XAUUSD. Continuing to wait for another high in gold. Waves (x) can be turned into flats or triangles if necessary.

#XAUUSD. If not I was not on vacation now, I would consider going long with a stop near the orange level.

#XAUUSD. Looking to add into the longs, but I’m still waiting.

Remember how everyone was telling you, six months ago, that you shouldn’t buy gold despite the VAT nullification? Told you that gold was overvalued and would not be a defensive asset in the new crisis. It was said that you could only save your capital in *asset_name* but not in gold.

But the Elliott Wave analyst, who updates the precious metal every month, said: we have to take it, then there will be the historical highs, the increase is 30% (https://t.me/eightyninewaves/3129). I also made some more successful predictions for trading purposes, for example, here I proposed to short the last diagonal (https://t.me/eightyninewaves/3169) and here I proposed a deep correction and an entry into longs from it (https://t.me/eightyninewaves/3355). And a month ago we traded an exit of the triangle going long again and it closed by take again: (https://t.me/eightyninewaves/3492).

So what will happen next? Well, the upside potential is almost exhausted, but the gold will renew the highs once more. On this update I will completely get rid of the paper metal. I will sell off the unallocated accounts, futures, options and stocks of gold mining companies. I will keep investments in paper silver and physical gold, but stop building up.

P.S. By the way, there was a great trade into a long on Friday with a small stop from the wave [4], we have taken it together with PREMIUM subscribers – join us to not miss the entry points!

#XAUUSD. No change, I hold the long.

#XAUUSD. There is a deal with p/l is more than 10 on gold, but the probability of course is not very high. I bought a little.