Gold Elliott wave analysis 12 November
price has finished its final wave c of wave Y .
wave c has made 1.382 projection but wave Y is still below its 100% projection.
the blue abc wave has its retracement target at 1812 the 0.382 retracement.
(it can make deeper correction but we expect at least 38% which opposite to current market psychology which says 1834 is now resistance. )
trend is bullish as longs as trading above 1721 on higher time frame
resistance 1886
support 1812
wave c has made 1.382 projection but wave Y is still below its 100% projection.
the blue abc wave has its retracement target at 1812 the 0.382 retracement.
(it can make deeper correction but we expect at least 38% which opposite to current market psychology which says 1834 is now resistance. )
trend is bullish as longs as trading above 1721 on higher time frame
resistance 1886
support 1812
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nice profit retracement targets achieved now wait for 1560
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next trade
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