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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