


mytrade1602
The brexit reversal will occur this and next month. Fed rate hike is on the table
Short at 1260 area, coming down to 1244. See the similar pattern. Se TP at 1245
This weekend, more wiki leaks about Clinton have come out, which will help the gold. But to my opinion, It has priced in a lot from 1270 to 1308 and also the fed rate hike in December will suppress the gold.
Possible price action based on modified Schiff pitchfork and elliot waves analysis. Watching for the wick when retracing to 1290.
Elliott waves for 2016-10-28 to 2016-10-31
ABCD Reversal, there might be another $20 drop when touching the middle line(1266) of the downtrend channel before going up.
Expecting the corrective wave from 1340 to 1324 ~ 1330 area.