XAU/USD Trading Analysis (03/06/2024)

The trend is ascending. The downward wave structures are truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches 2330.80 (pivot 2 of the wave C).

Stop-Loss at 2319.70 under the local minimum of the downward structure.

Target price levels at 2361.00 and 2433.00.

#xauusd #gold #metalstrading #tradingstrategies #tradingmt5