Whats Happening with XAU Pump & Dump? Understanding the Pattern!

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First of all take a look on D1 structure. It is a perfect retracement while I measure the fibs on this excellent D1 Elliot waves. We have a previous retracement done up to 61.8% fib. And the current retracement is sitting in the level of 61.8% too.

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Now in the 4h timeframe the Elliot wave is clearly identified. So We can see that Second wave has done its 61.8% retracement at 1722.79 Price level,

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Currently we're sitting on the 4th Wave which has completed its 61.8% Retracement while we're expecting a downside push ( bearish ) As the 5th Wave to complete the Elliot Waves perfectly in style. The Expected target will be around 1660-1645 Price Level
Sketch up your own trade setup before you take off. Good Luck!

Profitlio Trading ( Since 2014 in Financial Markets )
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