Possible Correction on GOLD (GC) by ThinkingAntsOk
Use this as a guide to develop your view of the chart.
Main items we can see on the 4hs chart:
a)currently, the price is on a Support zone
b)On that support zone, we expect a reaction towards the broken ascending trendline
c)From an Elliott perspective, we have a full count 12345 and now is correction time
d)How is a correction composed of 3 Waves ABC now we are on A and we expect B to come
e)If that happens, we should expect a final C before the continuation of the bullish movement.
Main items we can see on the 4hs chart:
a)currently, the price is on a Support zone
b)On that support zone, we expect a reaction towards the broken ascending trendline
c)From an Elliott perspective, we have a full count 12345 and now is correction time
d)How is a correction composed of 3 Waves ABC now we are on A and we expect B to come
e)If that happens, we should expect a final C before the continuation of the bullish movement.
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