XAU/USD Trading Analysis (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.
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