XAUUSD is interesting!
Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:
Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1
Could we also be looking at an early wave correction? Make sure to keep an eye out for gold.
Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1
Could we also be looking at an early wave correction? Make sure to keep an eye out for gold.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.