Qairos

Qairos

** It seems that a descending wedge pattern may be occurred. ** Correction may be ended with this pattern and that will be start of 3. impulse wave. ** According to my analyze 1940 level is good buying opportunity. ** The long term target of 3. impulse wave is above 2070. ** We will see if the correction will be ended @1940 level.

Qairos

** 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...

Qairos

** When we update our labels we see that 5. wave was completed @1987 and it is correction time. ** Most probably a Zigzag correction pattern is developing. ** Then price may increase up to ~1972 level and then can drop till ~1945 level. ** 1952 - 1944 area seems good for buying opportunity. In this scenario this correction wave can not drop beyond wave 1 (1936)...

Qairos

** When we check XAUUSD in monthly timeframe we see that Simple Elliott wave flat correction completed excellently and wave 4 was completed. ** It is clear that we are in 5. wave and the target is above latest ATH (all time high) in upcoming weeks.

Qairos Updated 

Flag formation appeared during corrections. Waiting for confirmation.

Qairos

** Channel Up has broken through the support line... ** Possible bearish price movement forecast towards around 1,945... ** We wıll update the labels after completion correction wave...

Qairos Updated 

5. Wave updated Previous analyze the labels were updated.

Qairos Updated 

Hello everyone, The price is increased @around 1970 level as we predicted in our latest analyze. I assume that the 5. wave was completed and predicting a correction wave. Two possible correction scenarios are as indicated on chart

Qairos Updated 

The 4th corrective wave (running flat) seems to be completed. With a long position from this level, approximately 1970 level can be set as the target for the 5th wave. Closes below the 1948 level shows that the 4th correction wave is not over yet so 1948 is a good level for stop loss.