Gold = Elliott Correction Short
Gold appears to have made a 5 wave impulsive move from Aug 2018 and completed in March 2020.
A corrective phase may be in play with waves a and b completed. If so then the next is a c wave to the downside.
Fibonacci extension of the a wave and Fibonacci retracement of the impulsive waves sets a projected target to the downside
between $1324 - $ 1368.
Entry = closer to $1600
Stop = above B wave
Target = $ 1345
RR = 5......
A corrective phase may be in play with waves a and b completed. If so then the next is a c wave to the downside.
Fibonacci extension of the a wave and Fibonacci retracement of the impulsive waves sets a projected target to the downside
between $1324 - $ 1368.
Entry = closer to $1600
Stop = above B wave
Target = $ 1345
RR = 5......
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