XAUUSD Elliot Wave Forecast - Wave 2
The chart illustrates a regular flat within the longer term correction which consists of a 3-3-5 wave sequence (A,B,C). Currently unfolding is the subdivision of Wave C which began from the November high of 1877.14.
Wave 2 is typically 38.2%, 50%, 61.8%, 76.4%, or 85.4% of wave 1.
Sustained pressure saw an eventual break of the resistance at the 0.618 fib level before halting at the 76.4% level. The pull back could extend further to the 85.4% towards 1859 before resuming the final stages of the correction. On the contrary, wave 2 is now potentially complete.
I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to share further ideas.
Thank you for taking the time.
BeyondEdge
Your Edge Is Your Perception. Go Beyond.
Wave 2 is typically 38.2%, 50%, 61.8%, 76.4%, or 85.4% of wave 1.
Sustained pressure saw an eventual break of the resistance at the 0.618 fib level before halting at the 76.4% level. The pull back could extend further to the 85.4% towards 1859 before resuming the final stages of the correction. On the contrary, wave 2 is now potentially complete.
I hope you found this useful, do leave your thoughts in a comment below. As always, a 'like' and 'follow' provides encouragement to share further ideas.
Thank you for taking the time.
BeyondEdge
Your Edge Is Your Perception. Go Beyond.
🔰 Not financial advice. For educational purposes only.
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
🔰 Join the free Telegram channel for more crypto - t.me/BeyondEdge
🔰Follow me on twitter twitter.com/beyondedge_
Your likes and follows are much appreciated.
BeyondEdge
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.