Hello trades,
Today we are looking at
XAUUSD.
In my analysis you seen above, I am using the Elliot wave trading strategy which I commonly teach.
Firstly we shorted as Gold rejected our 8HR EMA and 0.5 fibonacci
Gold is currently forming corrective wave A where we can see our minor impulsive waves forming.
https://bpcdn.co/images/2016/05/grade9-reverse-abc-correction.png
We are currently forming wave 2 which is a ABC corrective wave before continued bullishness
We are expecting price to continue down to our long zone at our 0.5/0.618 Fibonacci zone where we will be expecting subwave 3 to form which is a impulsive wave.
If you like my idea, be sure to give it a boost!
Today we are looking at
XAUUSD.In my analysis you seen above, I am using the Elliot wave trading strategy which I commonly teach.
Firstly we shorted as Gold rejected our 8HR EMA and 0.5 fibonacci
Gold is currently forming corrective wave A where we can see our minor impulsive waves forming.
https://bpcdn.co/images/2016/05/grade9-reverse-abc-correction.png
We are currently forming wave 2 which is a ABC corrective wave before continued bullishness
We are expecting price to continue down to our long zone at our 0.5/0.618 Fibonacci zone where we will be expecting subwave 3 to form which is a impulsive wave.
If you like my idea, be sure to give it a boost!
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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.
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.