Gold analysis and signal on May 7th 2024 @TPwithUS

Published by TPwithUS Writer at May 7, 2024

Hi Gold traders! welcome to our Forex Signal and Analysis Site! TPwithUS signals and analysis are based on Price actions, Gann Angels, and Astrology! Here we share, the Gold analysis and signal on May 7th 2024. Stay with us and take profit with us in the forex trading Market!

TPwithUS Gold analysis and signal on May 7th 2024

Gold seems to start a new ascending rolly

We gave you a buy position on yellow metal last week and it hit the SL but the analysis and path prediction were correct.

Anyway, we are watching 2 similar paths on XAUUSD and both of them will finish with breaking the highest top price.

1. The 4th wave of the 3rd wave of the big ascending wave has been finished and we should buy again in support level such as 2300-2305 to above 2450. It is more probably.
2. The ‘a’ wave of the 4th wave of the 3rd wave of the big ascending wave has been finished and we will see the breaking lowest price of last week until 2260-2240 and after that price start to grow. Based on Eliot wave measurements, this has more chance.

So what are you doing?

We powerfully suggest you be patient and careful, first. if you have a buy position please keep it until 2375 or 2290. We could rebuy 2375 with the trigger in the m15 timeframe and sell it below 2290 until 2265, 2252, and 2240 by trailing.

We have 2 suggestions for Gold:

1. Buy it on 2302 +-2$ with TP 2380 and 2450 SL 2288
2. Consider our XAGUSD analysis from a trading view, because buying it is more worthy.