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Gold ongoing correction to continue (Elliott Wave Analysis)

FX:XAUUSD   Emas/Dolar U.S
After completing a double Zig Zag type of correction (discussed in my previous post) Gold             now seems to be going up in an impulse, however the currently it seems to be in Wave 2 which looks like a Zig Zag indicating that prices can head lower from 12000 to 1175 region.

This is the main count as of now and the leg one seems to be a Leading Diagonal , other counts exist like Gold             following a 1-2, 1-2 kind of Wave structure but the most fitting count is what I have presented here.

In view of this count the strategy for trading still remains the same, Gold             is still a buy on dips, the essential levels are all been displayed on the chart.

I will update further as market progresses.

Watch detailed analysis on Youtube : https://www.youtube.com/c/50EYES

Video course on Elliott Wave : http://50eyes.com/elliott-wave-course/
Students of course get free entry to private group, see live application of Elliott Waves down to 1 min. chart.
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