Gold Alternate Count (Bearish Trade Setup) Elliott Wave Analysis
Aktualisiert
In the last update I shared my view that Gold should rise up for the 5th Wave to complete the circled Wave 3 which it has.
Alternate count in Green.
However at this point it seems that either that Wave 5 is a Truncated 5th or that it is Wave B of a Flat correction.
This is all evident to the fact that the double bracketed Wave 5 looks more like a 3 leg up.
Hence short positions can be initiated below 1257 keeping stops above the current swing high of 1264.
Expect min, target 1251.82 and 1244.61 or even lower.
I will update further as this market progresses.
Alternate count in Green.
However at this point it seems that either that Wave 5 is a Truncated 5th or that it is Wave B of a Flat correction.
This is all evident to the fact that the double bracketed Wave 5 looks more like a 3 leg up.
Hence short positions can be initiated below 1257 keeping stops above the current swing high of 1264.
Expect min, target 1251.82 and 1244.61 or even lower.
I will update further as this market progresses.
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Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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