ashaman

XAU Macro Elliott Wave analysis. Is the correction finally over?

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD
XAUUSD
XAUUSD

IMHO there is a very distinct possibility that XAUUSD has completed a full triple combo corrective sequence: Triangle + Zig Zag + flat.
The upwards move the last couple days has a distinctly impulsive feel to it, with the bulls very much in control. I am very much looking forward to discovering whether this is the start of a bullish impulse or more corrective wave nonsense.

In other news, I'm seeing quite a few toppy patterns in multiple stock indices - both US and international. The NASDAQ in particular looks quite disgusting on the daily - 3 giant bear spikes sticking up out of a rounded top. To me, it seems only natural that the start of a bullish impulse in gold might coincide with a corrective reversal in the stock markets.

Thoughts?

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.