Forex Trading Technical Analysis

Hello Traders I'm going to be analyzing the (XAUJPY)

I'm going to be analyzing gold versus the US dollar starting on the monthly and working my way down to the one-hour time frame and so on the monthly time frame as you can see we got a triple top here but I do believe this move down is cut and then I do believe it is going to end up going up into breaking those highs I think it's going to go up to at least a 2200 area and maybe even higher than that so let's take a look at that on the weekly type frame on the weekly time the frame I do believe this move down is a coetz into this last wave up we went right down to that perfectly to 61.8$, it made a nice impossible to the upside I think it's pretty well confirmed that this is the end of a question and that it probably is now back into the uptrend

let's take it down to the Daily on The Daily time frame it looks like you can see a trend right here looks like an I think this middle sets in is a b and I think this is a trend for wave C Well right down to the 61.8 nice impulsive up definitely got three waves up right now and it possibly could be cut and then it very easily could go down again but to me, I think it's very clear that the question is over and I think it's very clear that any moves we see to the downside are going to be corrections to the uptrend and it will continue to make higher lows higher lows and just keep on trending up probably eventually taking out all-time highs and continuing the uptrend

let's head down to the four-hour time frame on the four hour time frame I think this is a one two three four five eight here probably a one this is like an ABC probably a two to me it looks like a one-two and this is all a wave three which means that this credit right here that we're currently having is probably at the very least at wave four and it's probably going to go up again for wave five but what I think is probably more likely to happen is it's probably just a subdivision of a much bigger Trend and it's probably just going to keep on making higher highs higher lows it does keep on trending up to make that big pattern like I was sewing on like the weekly and monthly time frames

Let's take it down even more to the one-hour time frame on the whatever time favorites do seem to be like we probably are in a question right now this is especially with the three waves up that I made it probably is the way B there's probably a wave an already in here someplace it probably is going to go down more to make a wave C before it ends up continuing back up like I said it could end up being a three four five if it is a three four five then it will probably end up turning back down in some place around these Highs but I think what's more likely to happen is this is going to keep on making higher highs higher lows I think the best bet for us is to continue to look for Longs at the end of ABC pullbacks for the continuation of the uptrend like I was sewing on the much longer time frames

Happy Trading Good Luck