empty
20.06.2018 12:17 PM
Review of GOLD for a week of June 20 on simplified wave analysis

The wave pattern of the H4 graph:

The movement of the price of gold from January 25 sets a bearish wave. In the wave structure, a zigzag (A-B-C) is tracked. The preliminary purpose of the movement is in the area of 1250 USD/XAU ounce.

This image is no longer relevant

The wave pattern of the H1 graph:

The wave is descending, it starts counting from April 11. The nature of the motion is close to the momentum. After the flat correction a week ago, the next stage of decline began.

This image is no longer relevant

The wave pattern of the M15 chart:

Since June 14, a new bearish wave has started. In the next few days one can wait for the counter phase of the movement (B) to be worked out.

This image is no longer relevant

Recommended trading strategy:

In the next weeks, the most reasonable strategy will be the sale of gold. Conditions for buying this tool have not yet begun.

Resistance zones:

- 1290.0 / 1300.0

Support zones:

- 1250.0 / 1240.0

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

Isabel Clark,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD Analysis on June 11, 2025

The wave structure on the 4-hour chart for EUR/USD has shifted into a bullish formation and continues to hold this shape. I believe there's little doubt that this transformation

Chin Zhao 19:00 2025-06-11 UTC+2

GBP/USD Analysis on June 11, 2025

The wave structure for GBP/USD continues to suggest the formation of a bullish impulse wave pattern. The wave picture is nearly identical to that of EUR/USD. Until February

Chin Zhao 18:51 2025-06-11 UTC+2

GBP/USD Analysis on June 9, 2025

For the GBP/USD pair, the wave pattern continues to indicate the formation of an upward impulse wave structure. The wave pattern closely resembles that of the EUR/USD pair. Until February

Chin Zhao 20:16 2025-06-09 UTC+2

EUR/USD Analysis on June 9, 2025

The wave structure on the 4-hour EUR/USD chart has shifted to an upward formation and continues to hold this structure. I believe there's little doubt that this transformation occurred solely

Chin Zhao 20:09 2025-06-09 UTC+2

Analysis of EUR/USD on June 5, 2025

The wave pattern on the 4-hour chart for the EUR/USD pair has transformed into an upward structure and continues to maintain this formation. I believe there is little doubt that

Chin Zhao 20:03 2025-06-05 UTC+2

GBP/USD Analysis on June 4, 2025

The wave pattern for GBP/USD continues to indicate the formation of an upward impulsive wave structure. The wave picture is almost identical to that of the EUR/USD pair. Until February

Chin Zhao 18:48 2025-06-04 UTC+2

EUR/USD Analysis on June 3, 2025

The wave pattern on the 4-hour chart for EUR/USD has transformed into an upward structure and remains such. I believe there's no doubt that this transformation occurred exclusively

Chin Zhao 19:38 2025-06-03 UTC+2

GBP/USD Analysis on June 3, 2025

The wave structure for GBP/USD continues to indicate the development of an upward impulsive wave pattern. The wave pattern is almost identical to that of the EUR/USD pair. Until February

Chin Zhao 19:32 2025-06-03 UTC+2

EUR/USD Analysis on June 2, 2025

The wave structure on the 4-hour chart for EUR/USD has transformed into a bullish formation and continues to hold that shape. I believe there is no doubt that this transformation

Chin Zhao 19:07 2025-06-02 UTC+2

GBP/USD Analysis on June 2, 2025

The wave structure for GBP/USD continues to indicate the formation of a bullish impulse wave pattern. The wave pattern closely mirrors that of EUR/USD. Until February 28, we observed

Chin Zhao 19:05 2025-06-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.