Elliott wave Analysis: GOLD In A Pullback

OANDA:XAUUSD   Gold / US-Dollar
Gold is turning lower, now trading beneath channel support line so we see metal in a new corrective wave. It's wave B that can be looking for a support at 1330 or maybe even at 1307-1316 area if we consider that B wave normally retrace at least 38.2%.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Kommentar: Gold turned up perfectly from projected support after three-wave decline as expected!! We remain bullish for wave C up towards 1400 level or maybe even higher!
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checked just after i tried to make mu Eliott Wave. Good I see I`m on the right track :)
I was waiting for you to take a look at that! There was a triple RSI DIV on the daily candles the past days.
I think there is an indirect correlation between gold and crypto market. 1317 $ is expected but hopefully would drop a little lower at 1276.
+2 Antworten
@Acel, I am waiting 1260 levels then I buy
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