XAUUSD // SHORT TERM UPDATE
** Previosly we think that a simple zig zag correction may happen and the target of this correction wave is ~1945.
** The other scenario is now drawn on chart that a double zigzag correction wave may happen. Then the target of this correction wave will be ~1938.
** In both cases stop loss is ~1936 which is the end of 1. wave. This scenario will be cancelled if the price drops/close below 1936 level.
PS: If the elliot structure works minimum target is above 2080 in coming weeks.
** The other scenario is now drawn on chart that a double zigzag correction wave may happen. Then the target of this correction wave will be ~1938.
** In both cases stop loss is ~1936 which is the end of 1. wave. This scenario will be cancelled if the price drops/close below 1936 level.
PS: If the elliot structure works minimum target is above 2080 in coming weeks.
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.