according to my elliott wave analysis an impulse wave have started from beginning of 2016 in gold price.
wave 1 and 2 completed and XAUUSD is in wave 3. i considered 15 aug 2018 low as wave 2 of wave 3. if this count is correct, Gold is in the wave 4 of wave 3.
if gold goes below 1370 level both intermediate and primary degrees wave count will invalidated. so if gold drops to these levels it would be a great opportunity to buy and put a stop loss order below the region that wave 4 intersects with wave 1.
it is interesting situation in which below 1370 level, 2 wave count of 2 different degree will be invalidated and also this level was a strong resistance in past 2000 days! so may be gold will pullback to these level and we will long this market so crazy.
try to trade different markets.
stay tuned
wave 1 and 2 completed and XAUUSD is in wave 3. i considered 15 aug 2018 low as wave 2 of wave 3. if this count is correct, Gold is in the wave 4 of wave 3.
if gold goes below 1370 level both intermediate and primary degrees wave count will invalidated. so if gold drops to these levels it would be a great opportunity to buy and put a stop loss order below the region that wave 4 intersects with wave 1.
it is interesting situation in which below 1370 level, 2 wave count of 2 different degree will be invalidated and also this level was a strong resistance in past 2000 days! so may be gold will pullback to these level and we will long this market so crazy.
try to trade different markets.
stay tuned