XAU/USD (Gold ) Elliott-wave Road-Map for Price $2997
On the weekly time frame, gold is in 5th wave ,
Let's count the wave inside the 5th wave on the daily chart.
1st wave: $1609 to $2068. It looked like a springing bounce.
2nd wave: $2068 to $1810. It was a deep correction between 50-60% of wave 1.
3rd wave forecast: 261.8% of wave 1 is @ $2997.
Inside the 3rd wave, I have labeled waves in a green color. 5th subwave seems extended. 100% expansion is at 2997 which is 261.8% of wave 1 on a higher degree.
#XAUUSD #gold
Let's count the wave inside the 5th wave on the daily chart.
1st wave: $1609 to $2068. It looked like a springing bounce.
2nd wave: $2068 to $1810. It was a deep correction between 50-60% of wave 1.
3rd wave forecast: 261.8% of wave 1 is @ $2997.
Inside the 3rd wave, I have labeled waves in a green color. 5th subwave seems extended. 100% expansion is at 2997 which is 261.8% of wave 1 on a higher degree.
#XAUUSD #gold
Penafian
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