In this article I have discussed the 2 possibilities that can play out in Gold (XAU USD).
The market is either moving as a Flat in the Wave C (Consider the Count in BLUE)
OR
It has already completed the Wave 2 correction as a double Zig Zag and is currently in the Wave 2 of the 3rd (Consider the count in RED ), in both cases it looks that we should see the market moving down atleast till :
1250-1247.85
region, from there on more possibilities should become clear.
If this market is moving as a Flat then we can see the levels of 1240 and 1226.
I will update further as this market proceeds.
The market is either moving as a Flat in the Wave C (Consider the Count in BLUE)
OR
It has already completed the Wave 2 correction as a double Zig Zag and is currently in the Wave 2 of the 3rd (Consider the count in RED ), in both cases it looks that we should see the market moving down atleast till :
1250-1247.85
region, from there on more possibilities should become clear.
If this market is moving as a Flat then we can see the levels of 1240 and 1226.
I will update further as this market proceeds.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Related publications
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.
Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Related publications
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.